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SunSirs: The Lithium Hydroxide Market Slightly Increased in February
March 01 2024 15:15:45SunSirs(John)

Price trend

According to the Commodity Market Analysis System of SunSirs, as of February 29th, the average price of industrial grade lithium hydroxide in China was 98,400.00 RMB/ton, an increase of 0.82% compared to February 1st.

Market Overview

The lithium hydroxide market slightly increased in February. Before the holiday, cost support was limited, with some factories operating at a low level. Downstream high nickel positive electrode pre holiday inventory follow-up was still possible, and market transactions were mainly long-term contract orders. After the holiday, the price of industrial grade lithium carbonate in the upstream had slightly decreased, while the price of spodumene concentrate in the upstream had slightly declined, which slightly weakened the support for the lithium hydroxide market. The enthusiasm for downstream inquiries was still good, but actual transactions were light, and the market was weak and stable. Towards the end of the month, upstream lithium carbonate prices had risen, upstream spodumene concentrate prices had risen, and cost support had been boosted. Market transactions were still mainly based on long-term contract orders, and the mentality of the industry was still good. Lithium hydroxide prices had slightly increased.

Upstream lithium carbonate: According to the monitoring of the commodity market analysis system of SunSirs, on February 28th, the reference price for lithium carbonate industrial grade was 92,000.00 RMB/ton, an increase of 0.66% compared to February 1st (91,400.00 RMB/ton).

Market outlook

According to analysts from SunSirs, the lithium hydroxide market was boosted by upstream lithium carbonate, but there had been no significant improvement in demand. It is expected that in the short term, the lithium hydroxide market may operate in a wait-and-see manner and tends to be stronger, and more attention still needs to be paid to the trend of upstream lithium carbonate.

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