Chinese LFP sellers bearish about price trends
2023-03-29 08:24:02 [Print]
BEIJING (Asian Metal) 29 Mar 23 - Dragged by soft demand and dropping battery grade lithium carbonate 99.5%min prices, Chinese LFP suppliers lowered prices over the past week. As a consequence, the current Chinese LFP mainstream prices declined to RMB100,000-110,000/t (USD14,533-15,986/t) delivered D/A 180 days, down by around RMB2,000/t (USD291/t) from one week ago. In view of downward costs, suppliers hold bearish attitudes towards the LFP price trends in the coming week.
A producer in South China predicted that the Chinese LFP mainstream prices would move down further in the upcoming week due to sliding battery grade lithium carbonate 99.5%min prices. They lower LFP quotation to about RMB110,000/t (USD15,986/t) delivered D/A 180 days and consider selling at about RMB108,000/t (USD15,695/t) now, while they refused to sell at prices below RMB110,000/t (USD15,986/t) one week ago. They last sold 100t at around RMB108,000/t (USD15,695/t) early this week. "We have to lower prices in order to gain orders among furious competition among sellers," said the producer.
With an annual production capacity of 260,000t of LFP, the producer's outputs in 2022 and so far in 2023 recorded approximately 170,000t and 50,000t respectively. They expect to produce around 20,000t in March, without much change MoM. They don't hold stock at present, unchanged MoM.
Another producer forecasted that the Chinese LFP mainstream prices would slide by around RMB5,000/t (USD727/t) in the coming week due to sellers' downward costs and buyers' decreasing target prices. They quote about RMB100,000/t (USD14,533/t) delivered D/A 180 days for LFP and refuse to make concession on prices for orders less than 50t now, while they didn't consider selling at prices below RMB110,000/t (USD/15,986t) one week ago. "We last sold 24t at around RMB100,000/t (USD14,533/t) early this week," said the producer, who could purchase battery grade lithium carbonate 99.5%min at about RMB240,000/t (USD34,878/t) delivered D/A 180 days at present, while they couldn't buy at prices below RMB280,000/t (USD40,691/t) one week ago.
The producer, with an annual production capacity of 150,000t of LFP, expects to produce around 500t this month, compared with no production last month as they halted production in February. They produced about 1,100t so far this year, compared with approximately 12,000t this year. They hold an inventory of around 800t now, down by 400t MoM.
A producer in South China predicted that the Chinese LFP mainstream prices would move down further in the upcoming week due to sliding battery grade lithium carbonate 99.5%min prices. They lower LFP quotation to about RMB110,000/t (USD15,986/t) delivered D/A 180 days and consider selling at about RMB108,000/t (USD15,695/t) now, while they refused to sell at prices below RMB110,000/t (USD15,986/t) one week ago. They last sold 100t at around RMB108,000/t (USD15,695/t) early this week. "We have to lower prices in order to gain orders among furious competition among sellers," said the producer.
With an annual production capacity of 260,000t of LFP, the producer's outputs in 2022 and so far in 2023 recorded approximately 170,000t and 50,000t respectively. They expect to produce around 20,000t in March, without much change MoM. They don't hold stock at present, unchanged MoM.
Another producer forecasted that the Chinese LFP mainstream prices would slide by around RMB5,000/t (USD727/t) in the coming week due to sellers' downward costs and buyers' decreasing target prices. They quote about RMB100,000/t (USD14,533/t) delivered D/A 180 days for LFP and refuse to make concession on prices for orders less than 50t now, while they didn't consider selling at prices below RMB110,000/t (USD/15,986t) one week ago. "We last sold 24t at around RMB100,000/t (USD14,533/t) early this week," said the producer, who could purchase battery grade lithium carbonate 99.5%min at about RMB240,000/t (USD34,878/t) delivered D/A 180 days at present, while they couldn't buy at prices below RMB280,000/t (USD40,691/t) one week ago.
The producer, with an annual production capacity of 150,000t of LFP, expects to produce around 500t this month, compared with no production last month as they halted production in February. They produced about 1,100t so far this year, compared with approximately 12,000t this year. They hold an inventory of around 800t now, down by 400t MoM.
