SunSirs: The Lithium Hydroxide Market Had Been Weaker Since March
March 08 2023 09:35:35 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, as of March 7, the average price of domestic industrial lithium hydroxide enterprises was 435,000.00 RMB/ton, down 1.14% from that of March 1.
Analysis review
The domestic industrial lithium hydroxide market had been weak since March. Recently, the upstream lithium carbonate continued its downward trend, the support for lithium hydroxide weakened, the production and operation at the supply side were relatively stable, and the market supply was relatively sufficient, but the downstream follow-up was less than expected, mainly wait-and-see. The market transaction atmosphere was weak, and the quotations of lithium hydroxide enterprises were stable and downward.
Upstream lithium carbonate, according to the data monitoring of SunSirs, the price of industrial lithium carbonate fell recently. On March 6, the reference price of lithium carbonate - industrial grade was 366,600.00 RMB/ton, down 4.18% from that of March 1 (382,600.00 RMB/ton).
Market outlook
According to lithium hydroxide analysts of SunSirs, the current decline of lithium carbonate in the upstream continues, the cost support for lithium hydroxide is insufficient, the supply side is relatively abundant, and the demand side is slowly recovering. It is expected that the lithium hydroxide market may continue to be weaker in the short term.
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