Stickshift looks like Goldman is totally wrong.
Battery metals recovered well today.
As it is often said " the trend is your friend "
Still, think shorters are going to go against increasing carbonate prices? With other brokerage firms seeing an opportunity to buy back in the market after the tax loss selling.
Shorters now face a strong possibility of a deserved short squeeze....
ithium Carbonate Prices Back to the Upward Trajectory?
Jun 2, 2022 16:41
CST
Source:
SMMAccording to SMM prices, lithium salt prices have resumed their upward trend over the past five trading days. The spot price of battery-grade lithium carbonate has recorded two positive closes in the five trading days.
SHANGHAI, Jun 2 (SMM) - According to SMM prices, lithium salt prices have resumed their upward trend over the past five trading days. The spot price of battery-grade lithium carbonate has recorded two positive closes in the five trading days, with a cumulative increase of 2,000 yuan/mt. As of June 2, domestic battery-grade lithium carbonate spot prices rose to 454,000-473,000 yuan/mt, with the average price at 463,500 yuan/mt, an increase of 0.43% from the previous record.
As for the reasons accounting for the recent lithium carbonate price hike, recovering terminal demand after the pandemic situation in Zhejiang and Jiangsu picked up is among the causes according to SMM.
The production schedules of CAM (cathode active material) manufacturers that mainly produce LFP materials increased, and some new capacities from non-CAM manufacturers also generated added demand for lithium carbonate. In addition, some mid and small-sized manufacturers purchased on rigid demand, resulting in some transactions with high prices. Large manufacturers, on the other hand, restocked in an orderly manner, and the value of a single transaction increased.
In this case, upstream lithium salt factories raised their offers with optimistic outlook. And
it is expected that lithium carbonate prices will rise steadily with the recovery of demand.https://news.metal.com/newscontent/101850845/lithium-carbonate-prices-back-to-the-upward-trajectoryALL IMO
