SunSirs: Lithium Hydroxide Market Rose in May

Price trend

According to the Commodity Market Analysis System of SunSirs, as of May 31, the average price of industrial grade lithium hydroxide from enterprises in China was 305,000.00 RMB/ton, an increase of 18.45% compared to May 1.

Analysis review

The industrial grade lithium hydroxide market rose in May. In the Mid to early May, the upstream lithium carbonate market continued to rise, providing strong support for the lithium hydroxide market. In addition, downstream demand had slightly increased, the mentality of businesses to support prices was stronger. Enterprise quotations mainly increased, while spot market transactions were mainly in demand. The focus of lithium hydroxide negotiations had increased. In Late May, the upstream lithium carbonate price fluctuated and consolidated. There was still some cost support for the lithium hydroxide market, and there was no significant rebound in demand. The downstream procurement mentality was cautious, and market transactions were mainly based on demand. There was a strong wait-and-see atmosphere, and the focus of lithium hydroxide negotiations was stable.

Upstream lithium carbonate, according to data monitoring by SunSirs, the price of industrial grade lithium carbonate increased in May 2023. On May 30, the reference price for lithium carbonate industrial grade was 286,000.00 RMB/ton, an increase of 64.37% compared to May 1 (174,000.00 RMB/ton).

Market outlook

According to lithium hydroxide analysts from SunSirs, as of 31st, cost support was strong, and the industry had a price supportive mentality. Downstream market demand was low, and procurement was mainly in demand. The actual market transactions were average, and a cautious wait-and-see attitude still existed. It is expected that in the short term, the domestic lithium hydroxide market may become stagnant and operate, and more attention should be paid to market news guidance.

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