SunSirs: The Lithium Hydroxide Market Was Operating Weakly (January 1-12)
January 16 2024 10:01:36 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of January 12th, the average price of industrial grade lithium hydroxide in China was 131,000.00 RMB/ton, a decrease of 1.95% compared to the beginning of the month and a decrease of 76.04% compared to the same period last year.
Analysis review
Since January, the domestic industrial grade lithium hydroxide market had been operating weakly. Recently, the upstream industrial grade lithium carbonate market had been operating weakly, with prices of upstream spodumene concentrate falling and insufficient cost support. Downstream demand for high nickel materials was following slowly, and market transactions were mainly long-term cooperative orders, creating a strong wait-and-see atmosphere.
Upstream lithium carbonate: Recently, industrial grade lithium carbonate had maintained a downward trend. According to the monitoring of the commodity market analysis system of SunSirs, the domestic mixed average price of industrial grade lithium carbonate was 91,600 RMB/ton on January 11, 2024, which is 1.93% lower than the average price of 93,400 RMB/ton on January 7, providing weak support for the lithium hydroxide market.
Market outlook
According to analysts from SunSirs Lithium Hydroxide, the market was still lacking in positive support and the trading atmosphere was weak. It is expected that in the short term, the domestic lithium hydroxide market may experience weak consolidation and operation, and more attention should be paid to market news guidance.
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