Chinese lithium carbonate suppliers increase offers
2024-04-30 08:19:06 [Print]
BEIJING (Asian Metal) 30 Apr 24 - Supported by bullish attitudes, suppliers increase their offers today, however, as consumers mainly hold wait-and-see attitudes towards the price trend and don't accept, currently, the mainstream prices of Chinese lithium carbonate 99.2%min, Na 0.15%max, K 0.2%max still hover at RMB107,000-111,000/t (USD14,743-15,294/t) delivered D/P, without much change from yesterday. Given the bullish attitudes of suppliers, insiders predict that the mainstream prices of Chinese industrial grade lithium carbonate would go up slightly after holiday.
"We increase our offer to RMB113,000/t (USD15,570/t) delivered D/P and refuse prices lower than RMB112,000/t (USD15,432/t) for lithium carbonate 99.5%min Na 0.04%max, magnet 0.03%max today, while we could consider the price as low as RMB107,500/t (USD14,812/t) delivered D/P yesterday", said a trader in Qinghai, who sold 60t at RMB107,500/t (USD14,812/t) yesterday. The trader mentions that demand of consumers remains comparatively stable, but they increase their offers because their peers do. Given the bullish attitudes of market participants, they expect that the mainstream prices of Chinese industrial grade lithium carbonate would go up after holiday.
Based on a regular monthly trading volume of around 300t, they estimate to sell about 180t this month, while they sold about 310t last month. They hold around 60t of stocks now.
"We receive an offer of lithium carbonate 99.6%min, Na 0.01%max, K 0.003%max at RMB112,000/t (USD15,432/t) delivered D/P and our supplier refuses any lower prices today, while we bought 120t at RMB107,000/t (USD14,743/t) delivered D/P without the same offer yesterday", noted a trader in Sichuan. The trader discloses that their consumers hold cautious attitudes towards the price trend and don't place orders today. But given the bullish attitudes of their peers, they believe that the prevailing prices of Chinese industrial grade lithium carbonate would show an upward trend after May Day holiday.
With a typical monthly trading volume of about 1,000t, they expect to sell about 1,500t this month, up by about 500t MoM. They hold around 400t in the warehouse at present.
"We increase our offer to RMB113,000/t (USD15,570/t) delivered D/P and refuse prices lower than RMB112,000/t (USD15,432/t) for lithium carbonate 99.5%min Na 0.04%max, magnet 0.03%max today, while we could consider the price as low as RMB107,500/t (USD14,812/t) delivered D/P yesterday", said a trader in Qinghai, who sold 60t at RMB107,500/t (USD14,812/t) yesterday. The trader mentions that demand of consumers remains comparatively stable, but they increase their offers because their peers do. Given the bullish attitudes of market participants, they expect that the mainstream prices of Chinese industrial grade lithium carbonate would go up after holiday.
Based on a regular monthly trading volume of around 300t, they estimate to sell about 180t this month, while they sold about 310t last month. They hold around 60t of stocks now.
"We receive an offer of lithium carbonate 99.6%min, Na 0.01%max, K 0.003%max at RMB112,000/t (USD15,432/t) delivered D/P and our supplier refuses any lower prices today, while we bought 120t at RMB107,000/t (USD14,743/t) delivered D/P without the same offer yesterday", noted a trader in Sichuan. The trader discloses that their consumers hold cautious attitudes towards the price trend and don't place orders today. But given the bullish attitudes of their peers, they believe that the prevailing prices of Chinese industrial grade lithium carbonate would show an upward trend after May Day holiday.
With a typical monthly trading volume of about 1,000t, they expect to sell about 1,500t this month, up by about 500t MoM. They hold around 400t in the warehouse at present.
