Chinese battery grade lithium carbonate traders to lift prices
2023-04-25 08:30:44 [Print]
BEIJING (Asian Metal) 25 Apr 23 - Dragged by weak demand from consumers, the Chinese lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max market saw slow buying activities over the past week. The current mainstream prices of Chinese lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max declined to RMB163,000-170,000/t (USD23,648-24,663/t) delivered D/A 180 days, down by around RMB12,000/t (USD1,741/t) from one week ago. As producers held back from selling, Chinese battery grade lithium carbonate 99.5%min suppliers faced difficulties in replenishing stocks over the past two days and plan to lift prices in the coming days. Insiders forecasted that the Chinese lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max mainstream prices would move up in the upcoming week.
A trader in South China revealed that he quotes about RMB175,000/t (USD25,388/t) and has intention to sell at about RMB168,000/t (USD24,373/t) now. But he didn't consider selling at prices below RMB185,000/t (USD26,839/t) one week ago. As five of his regular producers refused to offer quotation over the past two days, he plans to increase lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max quotation to around RMB180,000/t (USD26,114/t) delivered D/A 180 days and would refuse to sell at prices below RMB175,000/t (USD25,388/t) tomorrow. "I last sold 60t at around RMB170,000/t (USD24,663/t) two days ago," said the trader, who forecasted that the Chinese lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max mainstream prices would move up by around RMB10,000/t (USD1,451/t) in the coming week as producers hold back from selling.
With a typical monthly trading volume of 700t of lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max, the trader sold approximately 8,000t and 1,400t respectively in 2022 and so far in 2023. He estimates to sell around 400t this month, without much change MoM. He doesn't have stock at present, unchanged MoM.
Another trader in South China noted that he has difficulty in replenishing inventories from producers and intends to increase lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max prices in the coming two days. Now he quotes around RMB170,000/t (USD24,663/t) delivered D/A 180 days for lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max and has intention to sell at about RMB168,000/t (USD24,373/t) at present, while he refused to sell at prices below RMB180,000/t (USD26,114/t) one week ago. He concluded his latest sale last weekend, when he sold 10t at around RMB168,000/t (USD24,373/t). "As suppliers plan to support prices and lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max supply would become tight, I foresee rising prices in the Chinese lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max market in the coming week," said the trader.
The trader, with a typical monthly trading volume of 100t of lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max, expects to sell around 50t this month, without much change MoM. He sold about 200t so far this year, compared with approximately 1,000t last year. He doesn't hold inventory at the moment, a decline of 20t MoM.
A trader in South China revealed that he quotes about RMB175,000/t (USD25,388/t) and has intention to sell at about RMB168,000/t (USD24,373/t) now. But he didn't consider selling at prices below RMB185,000/t (USD26,839/t) one week ago. As five of his regular producers refused to offer quotation over the past two days, he plans to increase lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max quotation to around RMB180,000/t (USD26,114/t) delivered D/A 180 days and would refuse to sell at prices below RMB175,000/t (USD25,388/t) tomorrow. "I last sold 60t at around RMB170,000/t (USD24,663/t) two days ago," said the trader, who forecasted that the Chinese lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max mainstream prices would move up by around RMB10,000/t (USD1,451/t) in the coming week as producers hold back from selling.
With a typical monthly trading volume of 700t of lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max, the trader sold approximately 8,000t and 1,400t respectively in 2022 and so far in 2023. He estimates to sell around 400t this month, without much change MoM. He doesn't have stock at present, unchanged MoM.
Another trader in South China noted that he has difficulty in replenishing inventories from producers and intends to increase lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max prices in the coming two days. Now he quotes around RMB170,000/t (USD24,663/t) delivered D/A 180 days for lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max and has intention to sell at about RMB168,000/t (USD24,373/t) at present, while he refused to sell at prices below RMB180,000/t (USD26,114/t) one week ago. He concluded his latest sale last weekend, when he sold 10t at around RMB168,000/t (USD24,373/t). "As suppliers plan to support prices and lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max supply would become tight, I foresee rising prices in the Chinese lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max market in the coming week," said the trader.
The trader, with a typical monthly trading volume of 100t of lithium carbonate 99.5%min, Na 0.025%max, K 0.001%max, expects to sell around 50t this month, without much change MoM. He sold about 200t so far this year, compared with approximately 1,000t last year. He doesn't hold inventory at the moment, a decline of 20t MoM.
