Chinese industrial grade lithium carbonate prices to rise further
2023-04-28 11:05:29 [Print]
BEIJING (Asian Metal) 28 Apr 23 - The Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max market witnessed tight supply over the past week as suppliers held back from selling. The current mainstream prices of Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max moved up to RMB159,000-165,000/t (USD22,992-23,860/t) delivered D/P, an increase of around RMB10,000/t (USD1,446/t) from one week ago. Insiders forecasted that the Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max mainstream prices would rise further in the coming week as suppliers still play dominant roles and intend to lift prices further.
A trader in South China forecasted that the Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max mainstream prices would move up in the upcoming week as suppliers hold back from selling and the market sees tight supply. He sent inquiry of 400t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max to six regular suppliers yesterday to six regular suppliers. But five of them didn't offer quotation and one quoted as high as about RMB180,000/t (USD26,029/t) delivered D/P, while he has no intention to purchase at prices higher than RMB165,000/t (USD23,860/t) now. He didn't consider purchasing at prices higher than RMB150,000/t (USD21,691/t) one week ago. "I last bought 100t at about RMB160,000/t (USD23,137/t) yesterday," said the trader.
With a typical monthly trading volume of 50t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max, the trader sold approximately 600t and 100t respectively in 2022 and so far in 2023. He expects a sales volume of around 300t this month, compared with no sales last month. He has no stock now, unchanged MoM.
Another trader in South China forecasted that the Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max mainstream prices would move up by around RMB10,000/t (USD1,446/t) in the forthcoming week due to tight supply. He sent an inquiry of 100t to five regular suppliers yesterday but most of them refused to offer quotation and some quoted about RMB175,000/t (USD25,306/t) delivered D/P, according to his experience, he couldn't bargain for cheaper prices if he would purchase now, while he has no intention to buy at prices higher than RMB160,000/t (USD23,137/t) now due to low target prices from his end users. He even didn't consider purchasing at prices higher than RMB150,000/t (USD21,691/t) one week ago. "I concluded my latest procurement early this month, when I bought 30t at about RMB180,000/t (USD26,029/t)," said the trader.
With a typical monthly trading volume of 150t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max, the trader sold around 290t so far in 2023, compared with approximately 2,000t in 2022. He expects a trading volume of about 50t this month, down by 10t MoM. He doesn't have stock now, unchanged MoM.
A trader in South China forecasted that the Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max mainstream prices would move up in the upcoming week as suppliers hold back from selling and the market sees tight supply. He sent inquiry of 400t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max to six regular suppliers yesterday to six regular suppliers. But five of them didn't offer quotation and one quoted as high as about RMB180,000/t (USD26,029/t) delivered D/P, while he has no intention to purchase at prices higher than RMB165,000/t (USD23,860/t) now. He didn't consider purchasing at prices higher than RMB150,000/t (USD21,691/t) one week ago. "I last bought 100t at about RMB160,000/t (USD23,137/t) yesterday," said the trader.
With a typical monthly trading volume of 50t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max, the trader sold approximately 600t and 100t respectively in 2022 and so far in 2023. He expects a sales volume of around 300t this month, compared with no sales last month. He has no stock now, unchanged MoM.
Another trader in South China forecasted that the Chinese industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max mainstream prices would move up by around RMB10,000/t (USD1,446/t) in the forthcoming week due to tight supply. He sent an inquiry of 100t to five regular suppliers yesterday but most of them refused to offer quotation and some quoted about RMB175,000/t (USD25,306/t) delivered D/P, according to his experience, he couldn't bargain for cheaper prices if he would purchase now, while he has no intention to buy at prices higher than RMB160,000/t (USD23,137/t) now due to low target prices from his end users. He even didn't consider purchasing at prices higher than RMB150,000/t (USD21,691/t) one week ago. "I concluded my latest procurement early this month, when I bought 30t at about RMB180,000/t (USD26,029/t)," said the trader.
With a typical monthly trading volume of 150t of industrial grade lithium carbonate 99%min, Na 0.15%max, K 0.2%max, the trader sold around 290t so far in 2023, compared with approximately 2,000t in 2022. He expects a trading volume of about 50t this month, down by 10t MoM. He doesn't have stock now, unchanged MoM.
