News summary
Lithium carbonate futures 2407 contract rose 0troymeyerjeopardy.39%troymeyerjeopardy, spot prices felltroymeyerjeopardy, the supply side increased by 14.7% month-on-month, and Chile's exports to China increased by 42.27% month-on-month. The demand side is expected to rise slightly, and the market outlook is volatile.
Newsletter text
[Lithium carbonate prices fell, and the spot market and futures market trends were mixed] Lithium carbonate prices continued to fall. Yesterday, lithium carbonate futures 2407 contract rose slightly by 0.39% to approximately 104,000 yuan/ton. However, the spot market performance was weak, with the average price of battery-grade lithium carbonate falling by 750 yuan/ton to 107,000 yuan/ton, and industrial-grade lithium carbonate falling by 1500 yuan/ton to 102,500 yuan/ton. In addition, the average price of battery-grade lithium hydroxide also fell, falling by 250 yuan/ton to 98,300 yuan/ton, with a basis of about 3000 yuan/ton. In terms of warehouse receipts, warehouse receipts increased by 480 tons yesterday, bringing the total to 23783 tons. From a supply perspective, lithium carbonate production in May is expected to increase by 14.7% month-on-month to 60,700 tons. At the same time, according to Chilean customs data, Chile exported approximately 22 percent of lithium carbonate to China in April.troymeyerjeopardy, 900 tons, an increase of 42.27% month-on-month and a year-on-year increase of 162.25%. On the demand side, although total downstream demand in May is expected to increase slightly compared with April, downstream companies have already replenished their stocks to a certain extent due to the relatively low prices in the previous period. In addition, due to the increase in the proportion of customer supply, the willingness of some cathode material manufacturers to purchase has weakened. Despite this, the end market is expected to be boosted by the old-for-new policy. Overall, the supply side is tending to be loose, and warehouse receipt inventories and social inventories continue to increase. After experiencing a rapid decline in the previous period, the space below may be relatively limited. Although the spot purchase market has rebounded, the market is not receptive to high-priced goods, and the overall driving force is not strong. The market outlook is expected to be dominated by shocks.