Chinese lithium hydroxide producers expect prices to remain stable
2024-03-18 08:30:55 [Print]
BEIJING (Asian Metal) 16 Mar 24 - Under the softened prices of lithium carbonate but high prices of raw material, Chinese lithium hydroxide producers expect prices to remain stable. Today, the prevailing prices of Chinese lithium hydroxide 56.5%min, K 0.003%max, Ca 0.005%max, Magnets 0.0001%max hover at RMB105,000-108,000/t (USD14,592-15,009/t) delivered D/A 180 days, up by about RMB5,000/t (USD694/t) from late last week. Consumers still mainly buy through long-term orders while spot market saw limited deals this week. Given that producers plan to hold their prices steady, insiders predict that the prevailing prices of Chinese battery grade lithium hydroxide would keep stable in the coming week.
"Consumers buy inactively for lithium hytroxide this week. But considering the high prices of raw material, we predict that the mainstream prices of Chinese battery grade lithium hytroxide would remain flat in the upcoming week", noted a producer in Hunan, who offers RMB108,000/t (USD15,009/t) delivered D/P and could consider a concession of RMB1,000/t (USD139/t) at most this week, while they quoted RMB110,000/t (USD15,287/t) delivered D/P without any counteroffer late last week. They sold 10t at RMB107,000/t (USD14,870/t) early this week and 5t at RMB110,000/t (USD15,287/t) late last week.
With an annual production capacity of 5,000t, they estimate to produce about 450t this month, the same as last month. They hold about 120t of stocks for the time being.
"Our consumers buy from hand to mouth due to their bearish attitudes towards the price trend for the long term. But given the high prices of raw material, we predict that the mainstream prices of Chinese battery grade lithium hytroxide would keep stable in the coming week", said a trader in Sichuan, adding that they quote RMB103,000/t (USD14,315/t) delivered D/P and refuse prices lower than RMB102,000/t (USD14,175/t) for battery grade lithium hytroxide this week. They sold 15t at RMB102,000/t (USD14,175/t) the day before yesterday. The trader quoted RMB102,000/t (USD14,175/t) delivered D/P and could consider the prices no less than RMB101,000/t (USD14,037/t) late last week, when they sold 15t at RMB102,000/t (USD14,175/t).
With a regular monthly trading volume of about 90t, they expect to sell about 150t this month, up by about 120t MoM. They hold no stock for the time being.
"Consumers buy inactively for lithium hytroxide this week. But considering the high prices of raw material, we predict that the mainstream prices of Chinese battery grade lithium hytroxide would remain flat in the upcoming week", noted a producer in Hunan, who offers RMB108,000/t (USD15,009/t) delivered D/P and could consider a concession of RMB1,000/t (USD139/t) at most this week, while they quoted RMB110,000/t (USD15,287/t) delivered D/P without any counteroffer late last week. They sold 10t at RMB107,000/t (USD14,870/t) early this week and 5t at RMB110,000/t (USD15,287/t) late last week.
With an annual production capacity of 5,000t, they estimate to produce about 450t this month, the same as last month. They hold about 120t of stocks for the time being.
"Our consumers buy from hand to mouth due to their bearish attitudes towards the price trend for the long term. But given the high prices of raw material, we predict that the mainstream prices of Chinese battery grade lithium hytroxide would keep stable in the coming week", said a trader in Sichuan, adding that they quote RMB103,000/t (USD14,315/t) delivered D/P and refuse prices lower than RMB102,000/t (USD14,175/t) for battery grade lithium hytroxide this week. They sold 15t at RMB102,000/t (USD14,175/t) the day before yesterday. The trader quoted RMB102,000/t (USD14,175/t) delivered D/P and could consider the prices no less than RMB101,000/t (USD14,037/t) late last week, when they sold 15t at RMB102,000/t (USD14,175/t).
With a regular monthly trading volume of about 90t, they expect to sell about 150t this month, up by about 120t MoM. They hold no stock for the time being.
