Good News & Bad News, page-9411

• Low downstream demand for lithium carbonate
• Spodumene prices increase $350/mt

Chinese lithium carbonate prices remained rangebound, while lithium hydroxide prices inched higher in the week to April 8.

S&P Global Commodity Insights assessed battery-grade lithium carbonate at Yuan 499,000/mt April 8 on a DDP China basis, down Yuan 1,000/mt day on day and on the week.
Throughout the week, prices continued to be supported by tight supply amid an increasingly tepid downstream domestic demand.
Offers in the domestic market were heard in the range of Yuan 460,000/mt to above Yuan 500,000/mt.
“While big factories are still offering above Yuan 500,000/mt, traders have been seen offering anywhere between Yuan 460,000-480,000/mt because they have greater financial pressure,” said a trader source in China.
Participants have said that domestic demand remained weak in the week started April 3, and the market threshold seemed to be at Yuan 500,000/mt.
“Market sentiment is not so good in China right now, as Q2 is usually a lull season and COVID-19 is also impacting the market,” said a producer source.
S&P Global assessed battery-grade lithium hydroxide at Yuan 501,000/mt March 8 on a DDP China basis, up Yuan 1,000/mt day on day, and up Yuan 5,000/mt week on week.
Offers for battery-grade lithium hydroxide were heard higher in the week, within Yuan 490,000-540,000/mt, as the availability of spot volumes of lithium hydroxide remained tight while demand from the northeast Asian market strengthened.
The northeast Asian market was facing a deficit, prompting an increase in demand for spot cargoes of lithium hydroxide, according to market participants.
S&P Global assessed spodumene concentrate with 6% lithium oxide content (SC6) at $5,350/mt FOB Australia April 8, up $350/mt from April 1.
Market sources had a bullish outlook on spodumene prices while spot availability remained scarce.
Tradable values were indicated higher in the week to April 8 at $5,000-$6,000/mt on an FOB Australia basis.