SunSirs: The Lithium Hydroxide Market Was Weak and Wait-and-See (January 16-22)
January 24 2024 10:46:06 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of January 22, the average price of industrial grade lithium hydroxide in China was 97,600.00 RMB/ton, a decrease of 24.92% compared to last Tuesday (January 16) and a decrease of 81.58% compared to the same period last year.
Analysis review
Recently, the domestic industrial grade lithium hydroxide market had been weak and wait-and-see, with some companies lowering their high-end quotations. Recently, the upstream industrial grade lithium carbonate market had remained stable, with weak and stable prices of spodumene concentrate in the upstream. The cost support was average, and the supply side mainly digested inventory. The downstream demand for high nickel materials was poor, and the pattern of strong supply and weak demand continued. The lithium hydroxide market was operating under pressure.
Upstream lithium carbonate: On January 19th, the reference price for industrial grade lithium carbonate was 91,600.00 RMB/ton, a decrease of 2.55% compared to January 1st (94,000.00 RMB/ton). Recently, the market for industrial grade lithium carbonate had remained stable, providing average support for the lithium hydroxide market.
Market outlook
According to Lithium Hydroxide analysts from SunSirs, the cost support was limited, and the supply and demand support was still weak. It is expected that the domestic lithium hydroxide market may operate weakly and steadily in the short term, and more attention needs to be paid to market news guidance.
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