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Chinese Lithium Prices Fall As Demand Decreases

by Agency Report
2 years ago
in Business
Chinese Lithium
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Chinese lithium prices have continued to fall amid an inactive spot market characterised by sustained weakness of demand.

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Over the past week, market participants noted a quiet domestic spot with consumers mostly relying on long-term supply and showing limited interest in spot material.

A Chinese lithium producer told FastMarkets that “there were barely any spot trades over the past week, and the spot prices are still falling. The downtrend could persist into the near future.”

Further price weakness weighed on buying appetite is anticipated.

“The consumers are cautious and staying on the sidelines. They believe spot lithium prices in China haven’t reached a bottom yet,” a second Chinese lithium producer told FastMarkets.

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According to sources, the weak consumer appetite stemmed from a downstream cathode sector that had never recovered significantly from its weak first five months of the year.

“While in May, lithium prices rebounded due to consumer restocking after they destocked earlier this year, the price support has now worn out with the completion of restocking,” a Chinese cathode producer told FastMarkets.

“Lithium producers are not offering hydroxide since there’s no demand for spot units. They are only delivering on long-term orders,” another Chinese lithium producer source said.

“But some traders are offering hydroxide though, in an attempt to offload them before prices decline further.

An assessment of the lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price range exw domestic China was 230,000-250,000 yuan ($31,924-34,700) per tonne on Thursday, down by 20,000 yuan per tonne from 250,000-270,000 yuan per tonne a week earlier.

While an assessment of the lithium hydroxide monohydrate, LiOH.H2O 56.5% LiOH min, battery grade, spot price range exw domestic China was 220,000-240,000 yuan per tonne on Thursday, down by 20,000-30,000 yuan per tonne from 240,000-270,000 yuan per tonne a week earlier.

Due to the summer lull being stronger in the Western hemisphere than in Asia, the drop in prices could be even bigger.


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