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Quick #lithium update from @Fastmarkets...
CIF #hydroxide slightly firmer on the week, #carbonate flat. Domestic #China market also sideways for both compounds but sentiment more bullish. Looking ominous for consumer restocking hopes if this is the extent of the spot 'pullback'.
CIF #hydroxide slightly firmer on the week, #carbonate flat. Domestic #China market also sideways for both compounds but sentiment more bullish. Looking ominous for consumer restocking hopes if this is the extent of the spot 'pullback'.
A few key quotes from the market:
Intl consumer: “Demand for lithium hydroxide remains strong in the seaborne market, while spot supply is tight. Lithium consumers in Japan and South Korea are sending many inquiries to Chinese sellers.”
Intl consumer: “Demand for lithium hydroxide remains strong in the seaborne market, while spot supply is tight. Lithium consumers in Japan and South Korea are sending many inquiries to Chinese sellers.”
Chinese producer: “Chinese sellers are not lowering their offers for lithium hydroxide amid expectations of a price rise in the near term, when the Chinese market recovers from the most recent outbreaks of Covid-19.”
#lithium carbonate breaks $510k yuan/ton which is $80k USD - almost a $10k increase in the last fortnight. A small thread on why this matters below for #electricvehicles and #lithium #mining stocks. Happy punting all.
#Spot #lithium traded as above is usually representative of tiny volumes at different districts in China. Could probably spend a whole thread describing lithium prices in different areas but that'd be a waste of time. Take away point is the volume is tiny but it's a trend.
The head price you see here is representative of what traders/chemical producers are getting for product sold typically to #cathode #producers who use the chemicals to create lithium batteries.
