SunSirs: The Lithium Hydroxide Market Was Operating to Be Weaker (May 13-19)
May 22 2024 15:58:24 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of May 19th, the average price of industrial grade lithium hydroxide in China was 105,800.00 RMB/ton, a decrease of 1.31% compared to last Monday's price.
Analysis review
Recently, the domestic lithium hydroxide market had declined. Recently, the price of spodumene concentrate had been narrowly weak, with upstream lithium carbonate prices falling and cost support showing weakness. The supply side was mainly stable, while downstream high nickel ternary demand had limited follow-up. The demand side had decreased compared to the previous period, and the market inquiry atmosphere was still acceptable. However, there was a clear wait-and-see attitude towards high priced raw materials, and caution was needed to enter the market. The actual transaction volume in the market was still weak, and the focus of negotiations in the lithium hydroxide market was falling.
Upstream lithium carbonate: According to the monitoring of the commodity market analysis system of SunSirs, on May 17th, the reference price for lithium carbonate industrial grade was 106,800.00 RMB/ton, a decrease of 1.48% compared to May 1st (108,400.00 RMB/ton). Through observing market changes, the spot market for lithium carbonate had shown a weak decline recently, which lacked support for the lithium hydroxide market.
Market outlook
According to Lithium Hydroxide analysts from SunSirs, short-term demand may still be insufficient in the face of market support, with most businesses adopting a wait-and-see attitude. It is expected that the lithium hydroxide market may continue to operate weakly and steadily in the short term, while still needing to pay attention to changes in upstream lithium carbonate prices.
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