SunSirs: Fundamental Support Was Strong, Lithium Hydroxide Continued to Rise in September

Price trend

According to the data of SunSirs' bulk list, as of September 29, the average price of domestic industrial-grade lithium hydroxide from enterprises was 166,333.33 RMB/ton, which was 37.09% higher than the price on September 1. The price increased by 85.50% in a three-month cycle and it increased by 204.27% year-on-year.

Analysis review

The lithium hydroxide market continued its upward trend in September. In the first half of the month, the upstream spodumene price was strong, the price of lithium carbonate continued to rise sharply, the cost support was strong. Companies had many long-term orders, and the market supply increased, but the spot supply of mainstream manufacturers was still limited, and the follow-up of downstream was active and stable, the price of lithium hydroxide rose steadily. In the second half of the month, the supply of spodumene was tight and the price was high, the price of lithium carbonate continued to rise, the market fundamentals were positive and the support continued, and the supplier had a strong intention to support the market. The operating rate of some areas had decreased, the downstream stocks were ordered in an orderly manner, the market atmosphere was fair, and the market was running strongly.

Upstream lithium carbonate, according to the price monitoring of SunSirs, in September, the price of industrial-grade lithium carbonate and battery-grade lithium carbonate in the East China market continued the rise in August. Until the end of the month, the price was still in the rising range but slowed down slightly. As of September 28, the average price of industrial-grade lithium carbonate in East China was 167,800 RMB/ton, a 40.77% increase compared with the average price at the beginning of the month. On September 28, the average price of battery-grade lithium carbonate in East China was 175,200 RMB/ton, an increase of 39.49% compared with the average price at the beginning of the month.

Market outlook

Lithium hydroxide analysts of SunSirs believe that the current cost support is still strong, and the market is stable and orderly. It is expected that the domestic industrial-grade lithium hydroxide market may operate at a high level in the short term, and more attention should be paid to market news guidance.

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