Hopefully w the AGM this week we gets some teaser news on lithium sampling...
Li MKT UPDATEBattery-grade lithium carbonate assessed at Yuan 197,000/mtMarket sentiment remains bullish on spodumene prices Tradable indications for battery-grade lithium carbonate in domestic China are increasing steadily after a brief fall in the week of Nov. 5.S&P Global Platts assessed battery-grade lithium carbonate at Yuan 197,000/mt Nov. 12 on a delivered, duty-paid China basis, up Yuan 1,000/mt day on day.Demand has remained strong for battery-grade lithium carbonate in the domestic market, with traded values pegged at Yuan 195,000-200,000/mt, according to market sources.While a few trades were heard done above Yuan 200,000/mt, with offers reaching Yuan 220,000/mt, downstream consumers continued to resist such high prices, a producer said.Some traders were heard to be cautious of rising carbonate prices, as demand for Q4 has been lower than expected due to power restrictions, and Q1 demand has historically been tepid.“I hear traders are only holding minimum inventories, with no plans to procure additional stocks for fear of a sudden drop,” said a trader.As large-scale power restrictions have been removed in domestic China, larger refiners have resumed production, and refineries processing industrial-grade lithium carbonate into battery-grade lithium carbonate were reportedly overbooked.Industrial-grade lithium carbonate was heard traded at Yuan 185,000/mt, and is expected to hold firm as the winter approaches.Tradable indications for battery-grade lithium hydroxide remained at Yuan 185,000-190,000/mt, with stable demand from battery makers shifting toward higher nickel chemistries, said a source.Platts assessed battery-grade lithium hydroxide at Yuan 187,000/mt Nov. 12, on a delivered, duty-paid China basis, down Yuan 2,000/mt day on day.In general, lithium chemistries are expected to remain supported in the near term as demand continued to outpace raw material supply.Platts assessed spodumene concentrate with 6% lithium oxide content (SC6) at $2,600/mt FOB Australia Nov. 12, up $36/mt from Nov. 5.Market sources have pegged tradable values at $2,500-$2,600/mt on an FOB Australia basis, pointing to a shortage of spot material in the market.“Given the lack of tradables in the market, sellers are not willing to offer below this level,” said a trader.“Although Pilbara’s stocks will only be delivered five months from now, the fact that the market is referencing these prices only goes to show how bullish market sentiment is at the moment.” said a source.
KZR Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
