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SunSirs: Lithium Hydroxide Market Was Temporarily Stable on June 10

June 11 2020 10:17:55     SunSirs (John)

Price trend

According to the data monitoring of SunSirs, as of June 10, the average price of domestic industrial-grade lithium hydroxide enterprises was 55,666.67 RMB/ton, which was flat compared with June 9 and fell by 2.34% compared with May 10.

 

Analysis review   

On June 10, the market for industrial-grade lithium hydroxide was temporarily stable. At present, downstream demand is flat, the market is weak, there are fewer new orders in the domestic market, and the focus of lithium hydroxide negotiations is temporarily stable.

Upstream: The market of lithium carbonate has been weak and stable recently. At present, the supply of lithium carbonate is sufficient, the downstream demand is sluggish, the contradiction between supply and demand is outstanding, the market is not trading smoothly, and the price is under pressure. According to the data of Sunsirs, as of June 9th, the average price of industrial grade lithium carbonate in East China was 39,900 RMB/ton, which was a decrease of 4.55% compared with May 9th; the average price of battery-grade lithium carbonate in East China on June 9 was 44,300 RMB/ton, a decrease of 4.11% compared with May 9. Weak demand transmission, the market of lithium carbonate is under pressure, but under the influence of production costs, it is expected that in the short term, the market of lithium carbonate may be weak and stable.

According to the price monitoring of SunSirs, on June 9, 2020, there were 20 kinds of commodities in the chemical sector that rose in the commodity price list, and there were 2 kinds of commodities with an increase of more than 5%, accounting for 2.2% of the monitored commodities in this sector. The top three commodities for the increase were sulfur (11.38%), isopropanol (5.18%), and phenol (4.70%). There were 10 kinds of commodities that decreased sequentially, and 1 kind of commodities that fell more than 5%, accounting for 1.1% of the monitored commodities in this sector; the top 3 products that fell were acetic anhydride (-7.57%) and chloroform (- 4.88%), formic acid (-2.59%). The average daily increase or decrease was 0.29%.

 

Lithium hydroxide analysts of SunSirs believe that the recent upstream lithium carbonate market is under pressure, the downstream demand is insufficient, and the cost and demand are dragged down. It is expected that in the short term, the industrial lithium hydroxide market will be mainly weak.

 

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