Good News & Bad News, page-27150

The international lithium market continued to track the bear run in the Chinese market in the week to April 11.

Lithium carbonate prices dropped by $5,000/mt on the day to reach $45,000/mt on a CIF North Asia basis while lithium hydroxide prices fell $5,000/mt on the day to $55,500/mt April 11.
The prices reflect the spot value of battery-grade material on a CIF North Asia basis, referring to deliveries to the main ports of China, Japan and South Korea. Lithium carbonate, however, is normalized to deliveries at the Shanghai port.
Seaborne lithium carbonate and hydroxide prices have fallen $30,000/mt (40%) and $25,800/mt (31.7%) since the start of the year.
The decrease in prices outside of China has been more gradual due to lower spot liquidity and limited availability of conversion capacity ex-China.
Currently, many Japanese and south Korean buyers are watching the Chinese market from the sidelines.
Offers for battery-grade lithium carbonate were heard at $40,000/mt and for hydroxide material at $50,000/mt, but buying interest has been thin due to sufficient stocks at Busan port, said an international trader.
Another international trader said that lithium carbonate was heard offered as low as $35,000/mt as the market is “pretty wild at the moment.”
International buyers are hesitant to purchase at current prices because of expectations that prices will continue to trend down.
Platts’ $45,000/mt assessment for battery-grade lithium carbonate CIF North Asia was equivalent to Yuan 350,515/mt on a DDP China basis, including 13% value-added tax, port and logistics costs.
The DDP China lithium carbonate price was assessed at Yuan 170,000/mt April 11, meaning seaborne prices were slightly more than double the Chinese domestic prices.