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nevchev

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04/02/23

09:45

Post #: 66067783
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Originally posted by nevchev ↑

Here we go people,the talk is already sounding more upbeat!
Looking forward to a super couple of years.

Market participants cite a trade around Yuan 460,000/mt

Chinese domestic stimulus expected to replace nationwide subsidies

Market liquidity expected to rebound end-Feb

Chinese battery-grade lithium carbonate traded at Yuan 460,000/mt in the week ended Feb. 3, sources said, in a sign of improving market sentiment.

Platts assessed battery-grade lithium carbonate at Yuan 460,000/mt Feb. 3 on a delivered, duty-paid China basis, unchanged on the day and up Yuan 2,000/mt on the week.
Mainstream tradable levels were heard slightly higher week on week in the Yuan 450,000-Yuan 470,000/mt range, with spot trades edging closer to Yuan 460,000/mt.
“The market has stabilized after the Lunar New Year. I think it wasn't as bearish as early January, and although liquidity is expected to be slow, prices will be supported by higher offers from traders," a Chinese consumer said. "Furthermore, although countrywide subsidies are gone, some local governments are beginning to offer subsidies/benefits, which might help demand return in the first quarter."
Electric vehicles in China are set to get a policy boost after several local governments late January released stimulus policies to promote vehicle consumption, a development that could accelerate EV sales and offset the removal of subsidies that were offered until 2022, market sources said.
"Prices are holding up despite the slow recovery of demand. The market is pretty optimistic about China's outlook, in addition to expectations that the local government subsidies will help lower EV prices and boost demand," a Chinese trader said, expecting the market to rebound by end-February.
The macroeconomy outlook for China remains healthy, and with government policy support, demand should be stable, a Chinese producer said.
Most market sources expect the prices to be rangebound in the Yuan 450,000-Yuan 470,000/mt range, with a favorable EV outlook in 2023.
Tradable values for battery-grade lithium hydroxide were largely stable as seaborne demand remain strong with market participants generally pegging prices in the Yuan 460,000-Yuan 470,000/mt range in the week to Feb. 3.
Platts assessed battery-grade lithium hydroxide at Yuan 469,000/mt Feb. 3 on a delivered, duty-paid China basis, stable on the day and up Yuan 1,000/mt on the week.
"Seaborne orders are garnering more interest because prices are better with demand from North Asia," a Chinese trader said, expecting prices to stay slightly supported in the North Asian market amid lower liquidity in China.
Platts assessed spodumene concentrate with 6% lithium oxide content at $5,600/mt FOB Australia Feb. 3, with prices steady on the week.
Tradable values were indicated in the $5,000-$6,000/mt range on an FOB Australia basis in the week ended Feb. 3, with long-term contract pricing heard closer to $6,000/mt, following a sharp rise in the fourth quarter of 2022.
"Long-term contract prices are higher due to the higher prices in Q4, but spot tradables will be lower given weaker lithium prices," an international trader said.
However, some market participants were more bullish about spodumene prices, expecting them to trade closer to long-term contract prices as spodumene fundamentals remain tight with low spot availability in the market.

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Be nice to see another auction somtime this month.I think the result could surprise to the upside!
PLS Price at posting: $4.89 Sentiment: Buy Disclosure: Held
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Good News & Bad News, page-23143

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