According to the monitoring of the commodity market analysis system of Shengyishe, the prices of industrial grade and battery grade lithium carbonate remained stable with minor fluctuations in February, and stopped falling and rising at the end of the month. On February 29th, the average domestic mixed price of industrial grade lithium carbonate was 92800 yuan/ton, an increase of 1.53% compared to the average price of 91400 yuan/ton on February 1st. On February 29th, the average domestic mixed price of battery grade lithium carbonate was 101200 yuan/ton, an increase of 0.4% compared to the average price of 100800 yuan/ton on February 1st.
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By observing market changes, it can be seen that in early February, due to the impact of the Spring Festival holiday, the price of lithium carbonate remained stable, with most companies offering stable prices. In terms of supply, the market continues to adopt a price boosting shipping strategy. A small number of lithium salt enterprises that purchase lithium mines have gradually reduced production and stopped production in the near future after experiencing long-term losses. Some large lithium salt factories will undergo routine seasonal maintenance during the Spring Festival period, and there is no inventory pressure in the short term. Therefore, the price of lithium carbonate remains stable.
In terms of demand, downstream positive electrode enterprises still have a low willingness to accept the high price of lithium carbonate. Due to the impact of holidays, the market purchasing demand is gradually weakening. Downstream manufacturers have basically completed pre holiday stocking, and most small and medium-sized enterprises have entered a state of shutdown. In addition, logistics have been hindered due to rainy and snowy weather and the impact of the Spring Festival, resulting in a trend of light trading volume and a stable market situation.
The price of lithium carbonate remained weak in the first week after the holiday in late February, but rebounded towards the end of the month. In terms of supply, the overall recovery of salt production after the holiday is relatively slow, and during the Spring Festival, maintenance and production reduction enterprises maintain a low operating rate. In addition, due to the rainy and snowy weather caused by this cold wave, the roads in the salt lake area have been obstructed, and the transportation cycle has been extended, resulting in an overall tight supply situation. Therefore, some salt factories currently have a strong mentality of price support, and some enterprises have a mentality of hoarding goods, leading to an increase in the price of lithium carbonate.
In terms of demand, downstream enterprises such as the positive electrode market have restocked and stocked up before the Spring Festival holiday, so there is no urgent procurement demand after the holiday, and the willingness to purchase is not strong, resulting in limited market acceptance. With the rebound of lithium carbonate prices after the holiday, the downstream market is still picking up goods according to the plan, supplemented by small batch zero order rigid demand purchases. Currently, there is still resistance to price increases, and the market has a strong gaming sentiment, with only a slight increase in transaction focus.
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The lithium hydroxide market is mainly characterized by large stability and small fluctuations, with a slight decline in upstream spodumene concentrate prices and limited cost support. The industry is operating at a low level, and downstream demand is weak. Inquiries and purchases are mainly followed up on demand, and enterprise shipments are average, creating a strong wait-and-see atmosphere. With the correction of lithium carbonate prices at the end of the month, it may provide positive support for lithium hydroxide.
Downstream prices of lithium iron phosphate fluctuate, and after the Spring Festival holiday, the market negotiation atmosphere is lukewarm, with slow shipments and weak prices. The price range is narrow and weak, and downstream demand is insufficient. The upward momentum is not obvious. With the rebound of lithium carbonate prices, the cost side has increased, leading to a slight increase in prices towards the end of the month.
In terms of futures, after the Spring Festival holiday in February, the price of lithium carbonate futures was stimulated by rumors such as the resurgence of environmental protection issues or restrictions on enterprises that cannot properly handle lithium slag in Yichun, which swept away the previous decline and started a rebound path. As of February 29th, the main lithium carbonate futures have maintained seven consecutive increases, and the price has even reached the level of 120000 yuan/ton. On February 29th, the opening price of the LC2407 contract for lithium carbonate futures on the Guangzhou Futures Exchange was 108450 yuan/ton, with a highest price of 119800 yuan/ton and a closing price of 119200 yuan/ton, with a daily increase of 9.21%. The trading volume was 590400 lots and the position was 209410 lots.
According to lithium carbonate analysts from Business Society, with the recent rise in futures prices and the emergence of arbitrage opportunities, the market has a good demand for low-priced lithium carbonate, leading to a slight increase in lithium carbonate prices. The upstream salt side is gradually showing a positive attitude towards price, but the downstream is still in a state of reducing raw material inventory and mainly relying on long-term purchasing. Therefore, although the market focus has increased, it is still limited and needs to be watched. It is expected that the price of lithium carbonate will remain strong in the short term.
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