GLOBAL LITHIUM WRAP: Domestic China carbonate price surges 8% on strong buying
China’s domestic battery-grade lithium carbonate market hit a 14-month high in the first trading week of the year after the price rose by 8% week on week on Thursday January 7 on soaring offer prices and heightened buying appetite.
[COLOR=rgba(50, 50, 50, 0.74902)]Published onJanuary 08, 2021 12:58 PM
[/COLOR]
The uptrend in China’s domestic battery-grade lithium carbonate price accelerated in the first pricing session of 2021 on tight supply and surging offering prices from most producers. Some buyers, who were in dire need for materials, purchased at higher levels.
- China’s battery-grade lithium carbonate price hit a 14-month high due to continued tight supply and producers hiking up prices further.
- Chinese industrial-grade lithium carbonate offers surged as well amid low availability of material.
- Offer prices in China’s lithium hydroxide market are also creeping higher but the assessment range held on a weekly basis.
Fastmarkets’ weekly price assessment for lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price range exw domestic China was 50,000-58,000 yuan ($7,735-8,973) per tonne on Thursday January 7, up from 48,000-52,000 yuan per tonne in the previous week and the highest since hitting 56,000-59,000 yuan per tonne on October 31, 2019.
“Prices saw further increases this week entering January, with most producers even offering at 60,000-65,000 yuan per tonne for battery-grade lithium carbonate. I heard some deals concluded at 58,000-61,000 yuan per tonne for cash settlement if buyers are in emergency need for materials,” a buyer told Fastmarkets.
“We are offering battery-grade lithium carbonate at 60,000 yuan per tonne, and we have no available materials on hand with most materials already booked,” a producer said.
China’s technical and industrial grade lithium carbonate market also saw much higher offers up to 50,000-60,000 yuan per tonne, with limited availability in spot material.
Fastmarkets assessed the Chinese technical and industrial grade lithium carbonate spot price at 42,000-48,000 yuan per tonne on Thursday, rising from 40,000-45,000 yuan per tonne on December 31.
“The key issue is lack of supply, and some offering prices are even up to 60,000 yuan per tonne for industrial-grade lithium carbonate,” a trader said.
The bullish sentiment also spread to the battery-grade lithium hydroxide market, which saw higher offering prices from producers trying to push up prices following the surge in the lithium carbonate sector this week. But there were limited new deals concluded at the higher level.
Fastmarkets’ lithium hydroxide monohydrate, 56.5% LiOH.H2O min, battery grade, spot price range exw domestic China was at 41,000-46,000 yuan per tonne on Thursday January 7, unchanged from the previous week.
“Battery-grade lithium hydroxide offering prices are [as high as] 46,000-50,000 yuan per tonne with more suppliers pushing up prices to test the market. But trade activities remain thin this week,” a second buyer said
