Chinese industrial grade lithium carbonate traders bearish about price trends
2023-03-14 08:30:17 [Print]
BEIJING (Asian Metal) 14 Mar 23 - The market of Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max witnessed slow buying activities over the past week due to soft demand from consumers. The current mainstream prices of Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max dropped to RMB275,000-285,000/t (USD39,936-41,388/t) EXW D/P, down by around RMB40,000/t (USD5,809/t) from one week ago. Traders lacked confidence towards the demand outlook and held bearish attitudes towards the price trends.
A trader in South China forecasted that the mainstream prices of Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max would go down by around RMB10,000/t (USD1,452/t) in the coming week due to weak demand from buyers. He lowers quotation to about RMB290,000/t (USD42,114/t) EXW D/P and has intention to sell at around RMB285,000/t (USD41,388/t) now, while he refused to sell at prices below RMB325,000/t (USD47,197/t) one week ago. He last sold 60t at around RMB330,000/t (USD47,923/t) early this month. "My clients held wait-and-see attitudes and I failed to get any inquiries over the past week," said the trader.
The trader, with a typical monthly trading volume of 600t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max, sold about 7,000t in 2022 and around 1,000t so far in 2023. He expects a sales volume of only around 60t this month, down by 300t MoM. He doesn't have stock now, a decline of 300t MoM.
Another trader in South China predicted that the Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max market would continue witnessing sliding prices in the coming week as a result of soft demand and decreasing target prices from consumers, He quotes around RMB280,000/t (USD40,662/t) EXW D/P and considers selling at about RMB275,000/t (USD39,936/t) now, while he had no intention to sell at prices below RMB320,000/t (USD46,470/t) on week ago. "I failed to get any inquiries after my latest sale of 30t at about RMB335,000/t (USD48,649/t) early this month," said the trader, who holds a negative attitude towards the demand outlook.
With a typical monthly trading volume of 160t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max, the trader expects a sales volume of only around 60t this month, down by 40t MoM. He sold about 200t so far this year, compared with approximately 2,000t last year. He holds no inventory now, down by 60t MoM.
A trader in South China forecasted that the mainstream prices of Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max would go down by around RMB10,000/t (USD1,452/t) in the coming week due to weak demand from buyers. He lowers quotation to about RMB290,000/t (USD42,114/t) EXW D/P and has intention to sell at around RMB285,000/t (USD41,388/t) now, while he refused to sell at prices below RMB325,000/t (USD47,197/t) one week ago. He last sold 60t at around RMB330,000/t (USD47,923/t) early this month. "My clients held wait-and-see attitudes and I failed to get any inquiries over the past week," said the trader.
The trader, with a typical monthly trading volume of 600t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max, sold about 7,000t in 2022 and around 1,000t so far in 2023. He expects a sales volume of only around 60t this month, down by 300t MoM. He doesn't have stock now, a decline of 300t MoM.
Another trader in South China predicted that the Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max market would continue witnessing sliding prices in the coming week as a result of soft demand and decreasing target prices from consumers, He quotes around RMB280,000/t (USD40,662/t) EXW D/P and considers selling at about RMB275,000/t (USD39,936/t) now, while he had no intention to sell at prices below RMB320,000/t (USD46,470/t) on week ago. "I failed to get any inquiries after my latest sale of 30t at about RMB335,000/t (USD48,649/t) early this month," said the trader, who holds a negative attitude towards the demand outlook.
With a typical monthly trading volume of 160t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max, the trader expects a sales volume of only around 60t this month, down by 40t MoM. He sold about 200t so far this year, compared with approximately 2,000t last year. He holds no inventory now, down by 60t MoM.
