Chinese battery grade lithium hydroxide prices decline
2023-03-21 08:31:24 [Print]
BEIJING (Asian Metal) 21 Mar 23 - The Chinese lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max market witnessed slow buying activities over the past week as buyers purchase inactively. Therefore, the current mainstream prices of Chinese lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max dropped to RMB355,000-365,000/t (USD51,613-53,067/t) delivered D/A 180 days, down by around RMB15,000/t (USD2,181/t) from one week ago. Insiders forecasted that the mainstream prices of Chinese lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max would slide further in the upcoming week.
A producer in South China revealed that he lowers quotation for lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max to around RMB355,000/t (USD51,613/t) delivered D/A 180 days and considers selling at about RMB350,000/t (USD50,886/t) now, while he refused to sell at prices below RMB380,000/t (USD/t) half a month ago. "I concluded my latest sale two weeks ago, when I sold five tons at around RMB380,000/t (USD55,247/t)," said the producer, who forecasted that the Chinese lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max mainstream prices would go down further in the upcoming week due to weak demand and low target prices of buyers.
With an annual production capacity of 3,000t of lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max, the producer expects to produce around 90t this month, down by 10t MoM. He produced approximately 1,200t and 220t respectively in 2022 and so far in 2023. He doesn't hold stock now, unchanged MoM.
A trader in South China disclosed that he quotes around RMB370,000/t (USD53,794/t) delivered D/A 180 days for lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max to him and has intention to sell at around RMB365,000/t (USD53,067/t) at present, while he didn't consider selling at prices below RMB380,000/t (USD55,247/t) two weeks ago. He last sold two tons at around RMB375,000/t (USD54,521/t) early last week. "My clients keep lowering prices and I have to lower prices in order to gain orders among furious competition," said the trader, who predicted that the mainstream prices of Chinese lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max would slide by around RMB10,000/t (USD1,454/t) in the upcoming week.
The trader, with a typical monthly trading volume of 15t of lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max, sold around 30t so far this year, compared with about 200t last year. He estimates to sell at about 10t this month, down by 10t MoM. He holds no stock at the moment, a decline of 10t MoM.
A producer in South China revealed that he lowers quotation for lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max to around RMB355,000/t (USD51,613/t) delivered D/A 180 days and considers selling at about RMB350,000/t (USD50,886/t) now, while he refused to sell at prices below RMB380,000/t (USD/t) half a month ago. "I concluded my latest sale two weeks ago, when I sold five tons at around RMB380,000/t (USD55,247/t)," said the producer, who forecasted that the Chinese lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max mainstream prices would go down further in the upcoming week due to weak demand and low target prices of buyers.
With an annual production capacity of 3,000t of lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max, the producer expects to produce around 90t this month, down by 10t MoM. He produced approximately 1,200t and 220t respectively in 2022 and so far in 2023. He doesn't hold stock now, unchanged MoM.
A trader in South China disclosed that he quotes around RMB370,000/t (USD53,794/t) delivered D/A 180 days for lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max to him and has intention to sell at around RMB365,000/t (USD53,067/t) at present, while he didn't consider selling at prices below RMB380,000/t (USD55,247/t) two weeks ago. He last sold two tons at around RMB375,000/t (USD54,521/t) early last week. "My clients keep lowering prices and I have to lower prices in order to gain orders among furious competition," said the trader, who predicted that the mainstream prices of Chinese lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max would slide by around RMB10,000/t (USD1,454/t) in the upcoming week.
The trader, with a typical monthly trading volume of 15t of lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnet 0.0001%max, sold around 30t so far this year, compared with about 200t last year. He estimates to sell at about 10t this month, down by 10t MoM. He holds no stock at the moment, a decline of 10t MoM.
