Asian lithium carbonate prices slightly fall on dayEuropean spot...

• Asian lithium carbonate prices slightly fall on day
• European spot trade reflects Asian market sentiment
• New DDP US Lithium carbonate price assessment launches

Asian seaborne lithium prices fell in the week ended Jan. 30 on scarce demand and lower tradable indications.

Platts assessed the battery-grade lithium carbonate prices at $13,500/mt Jan. 30, down $200 on the day, while lithium hydroxide was assessed at $13,300/mt, down $700 on the day and on the week.

The prices reflected 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 port of Shanghai.

Offers were in a range of $13,300-$14,500/mt for lithium carbonate in the week to Jan 30. On the other hand, lithium hydroxide offers were heard at around $13,300/mt, with tradable levels heard as low as $12,000-$13,000/mt.

The North Asian market remained quiet as usual, and a China-based broker said nothing much was happening in the lithium market.

"Now the seaborne market has low demand, and it is really quiet, and we do not have many positions left to offer in February," a China-based lithium hydroxide producer.

The Platts $13,500/mt assessment for battery-grade lithium carbonate CIF North Asia was equivalent to Yuan 108,604/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 96,000/mt Jan. 30, meaning seaborne lithium prices remained above domestic Chinese lithium prices, trading at a premium of Yuan 12,604/mt, or a 13.13% difference.

The US dollar was assessed at Yuan 7.1055 at 4:30 pm Singapore time (0830 GMT).

The European imported lithium spot trade continued to reflect bearish Asian market sentiment.

An international buyer said that there were no offers, and the market “indeed [was] not promising.”

The buyer said the European import prices should be in line with the CIF North Asia spot market, but that was not confirmed by other sources.

Platts assessed daily lithium carbonate and hydroxide at $13,900/mt and $14,000/mt, respectively basis CIF Europe, both down $500 on the day and the week.

Since the launch on Oct. 16, 2023, both lithium assessments have been continuously decreasing, with lithium carbonate down 39.8% and hydroxide down 43.8%.

The new first-of-kind Platts daily DDP US lithium carbonate assessment launched Jan. 29, 2024, remained unchanged Jan. 30 at $15,400/mt.

The launch responds to growing demand from market participants for increased spot pricing information on battery-grade lithium carbonate delivered into the US, as the North American battery supply chain further develops.

The assessment reflects standard battery grade quality, min 99.5% Li2CO3, delivered 15-60 days forward. Indications for other qualities are considered and normalized to Platts base standard specification, subject to prevailing market differentials.

In the absence of observable spot market activity, Platts may consider other verifiable data reported, such as the effect of movements in related markets through spread differentials, for example. The assessment was based on Platts specifications of min 99.5% Li2CO3, delivered 15-60 days forward.

Platts is part of S&P Global Commodity Insights.