Price trend

According to the data monitored by SunSirs, the price of industrial and battery grade lithium carbonate continued to rise this week. On November 3, the average price of industrial lithium carbonate in East China was 577,000 RMB/ton, which was 3.22% higher than the average price at the beginning of the week (on October 30, the average price of industrial lithium carbonate in East China was 559,000 RMB/ton). On November 3, the average price of battery grade lithium carbonate in East China was 594,000 RMB/ton, which was 2.59% higher than the average price at the beginning of the week (on October 30, the average price of battery grade lithium carbonate in East China was 579,000 RMB/ton).

Analysis review

From the observation of market changes, the price of lithium carbonate still rose this week, and the price also kept refreshing. In terms of market supply, the market was still in a state of long order delivery and tight spot. In addition, the recent epidemic situation in various parts of China continued to recur, leading to frequent market transportation control and continuous tension in the market spot.

In terms of demand, the market expectation was still good, and the operating rate of downstream enterprises was high. As the prosperity of new energy vehicles continued to rise, the production scheduling demand of downstream ternary high nickel cathode material plants was still at a high level. With the continuous control of epidemic situation, downstream enterprises were basically in a state of active stock in order to ensure normal production.

The downstream lithium hydroxide price remained stable, while the upstream lithium carbonate price remained stable. The cost support was strong, the supply side was short of spot, and the downstream demand was high. The market delivery was still dominated by long order customers, so the price was temporarily stable.

The price of downstream lithium iron phosphate was stable, the focus of market negotiation was stable, and the operating rate was normal. The downstream purchased was mainly on rigid demand, mainly for contract customers. The number of new orders was limited, and the price was stable in the short term.

Market outlook

Lithium carbonate analysts from SunSirs believe that, recently, the epidemic situation in many places in China was repeated, the market logistics and transportation were still blocked, and the price of lithium carbonate continued to rise due to the tight spot market. It is expected that the price of lithium carbonate will remain to be strong in the short term.

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