SunSirs: The Lithium Hydroxide Market Continued Its Downward Trend in August

Price trend

In August, the domestic industrial grade lithium hydroxide market continued its downward trend. According to the Commodity Market Analysis System of SunSirs, as of August 29th, the average enterprises price of industrial grade lithium hydroxide in China was 252,750.00 RMB/ton, a decrease of 18.20% compared to that of August 1st and a decrease of 16.79% compared to the same period last year.

Analysis review

The domestic industrial grade lithium hydroxide market price fell in August. In the first half of the month, the lithium ore market operated weakly and steadily, with lithium carbonate prices experiencing a weak downward trend and cost support weakened. Production enterprises mainly focused on long-term orders, while the follow-up of downstream material factories was insufficient on demand. The enthusiasm for inquiry procurement was not high, and market transactions were mainly on demand. Holders actively shipped, and the focus of negotiations in the lithium hydroxide market was weaker. In the second half of the month, the lithium ore market was operating weakly, with a sluggish lithium carbonate market and cost support for the lithium hydroxide market was insufficient. Downstream procurement was cautious, and high-end price negotiations were weak. The market atmosphere was light, and the market continued to decline.

Upstream lithium carbonate: According to the Commodity Market Analysis System of SunSirs, on August 28th, the reference price for industrial grade lithium carbonate was 215,000.00 RMB/ton, a decrease of 21.53% compared to August 1st (274,000.00 RMB/ton).

Market outlook

Lithium hydroxide analysts from SunSirs believe that as of August 29th, the cost support was insufficient, and the demand performance was weak. It is expected that in the short term, the domestic lithium hydroxide market may be in weak consolidation and operation, and more attention needs to be paid to market news guidance.

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