Price trend

According to the data monitored by SunSirs, the prices of industrial and battery grade lithium carbonate still fell this week, and the number of enterprises with prices falling gradually increased. As of November 24, the average domestic mixed price of industrial lithium carbonate was 581,000 RMB/ton, a decrease of 1.02% compared with the average price of 587,000 RMB/ton on November 20. On November 24, the average domestic mixed price of battery grade lithium carbonate was 597,000 RMB/ton, down 1.16% compared with the average price of 604,000 RMB/ton on November 20.

Analysis review

From the observation of market changes, lithium carbonate prices still showed a downward trend this week, and the market showed a downward expectation. In terms of supply, the products of major mainstream manufacturers were mainly supplied to long-term agreement customers. In order to ensure the supply, there were basically no external goods. However, as the temperature gradually decreases in winter, salt lake enterprises in Qinghai may suffer from this impact and reduce production, which may support the price of lithium carbonate.

On the demand side, the terminal market in the fourth quarter came to an end, and the demand for the power end market weakened and the heat gradually decreased. It is understood that the output of downstream cathode material plants and lithium iron enterprises had declined, which had also driven the overall demand for lithium carbonate to weaken. The market procurement was in a state of rigid demand, and the mood was still mainly wait-and-see.

The price of lithium hydroxide in the downstream was stable. From the perspective of cost, the price of spodumene in the upstream was high, which still supported the cost. The spot transactions on the market are mainly just in demand, but with the reduction of downstream battery plants, the ternary demand situation is not as expected, and the price of lithium hydroxide is mainly stable for the time being.

The price of ferrous lithium phosphate in the downstream was stable. Recently, the overall price trend of lithium salt and iron phosphate, the two main materials of ferrous lithium phosphate, was stable, and the cost of ferrous lithium phosphate was stable. At present, the demand for lithium iron at the energy storage end is still high. However, under the strong uncertainty of future demand, some lithium iron enterprises have tightened production scheduling and are cautious in purchasing.

Market outlook

Lithium carbonate analysts from SunSirs believe that recently, due to the weakness of downstream demand, the market's willingness to receive goods was relatively conservative, and the market quotation was loose and downward, driving the market's game sentiment gradually. However, due to the weakening of the market output in winter and the support of the high auction price of the ore end, it is expected that the price of lithium carbonate will remain to sort out at a high level in the short term.

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