Seaborne lithium carbonate prices were flat on the day and the...

Seaborne lithium carbonate prices were flat on the day and the week at $32,000/mt on a CIF North Asia basis May 16, while lithium hydroxide prices were up $2,000/mt on the day and $500/mt on the week to $42,000/mt May 16.

The Platts $32,000/mt assessment for battery-grade lithium carbonate CIF North Asia was equivalent to Yuan 251,584/mt on a DDP China basis, including 13% value-added tax, port and logistics costs.
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.
The DDP China lithium carbonate price was assessed at Yuan 275,000/mt May 16, suggesting that China's domestic prices were now higher than seaborne prices. The US dollar was assessed at Yuan 6.9506 at 4:30 pm Singapore time.
Indications for battery-grade lithium hydroxide were heard up to $44,000-$45,000/mt on May 16, while offers for battery-grade lithium carbonate were heard up to $45,000/mt in the week to May 16, as Chinese domestic lithium chemicals prices continued to rise.
DDP China battery-grade lithium carbonate prices were up Yuan 67,000/mt on the week, while lithium hydroxide prices were up Yuan 60,000/mt on the week.
In contrast, North Asian lithium prices showed a slower rise, causing prices to lag domestic prices.
Consequently, some producers were less inclined to offer in the international market and wanted to wait for prices to increase further.
“Now, we see the carbonate market in a panic or under the pressure of producers who [are] trying to raise the price,” an international producer said.
A Chinese producer said that they are not indicating any offers for battery-grade lithium hydroxide, adding that they are waiting for prices to increase first.
“We also got offers between $42,000-$45,000/mt for technical-grade lithium hydroxide,” an Asia trader said.
According to market participants, buyers remained relatively cautious as market fundamentals remained weak.
“Inventories are still yet to be consumed, but sellers are holding while buyers are waiting and seeing,” an Asian consumer source said.