SunSirs: Lithium Hydroxide Market Continued to Decline (November 11-17)
November 17 2023 14:29:07 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of November 17th, the average price of industrial grade lithium hydroxide enterprises in China was 188,600.00 RMB/ton, a decrease of 4.75% compared to Monday's price and a decrease of 67.48% compared to the same period last year.
Analysis review
This week, the domestic industrial grade lithium hydroxide market fell. The recent weak market situation in the upstream industrial grade lithium carbonate market led to a narrow decline in the price of upstream spodumene concentrate, insufficient support for the lithium hydroxide market, and poor demand performance. Under pressure from downstream factories, most of the purchases were in demand, and market transactions were still mainly based on long-term orders. The atmosphere for bulk transactions was weak, and the focus of negotiations in the lithium hydroxide market was weaker.
Upstream lithium carbonate: The market for industrial grade lithium carbonate had recently declined. According to the Commodity Market Analysis System of SunSirs, on November 16th, the reference price for lithium carbonate industrial grade was 147,600.00 RMB/ton, a decrease of 7.29% compared to November 1st (159,200.00 RMB/ton), weakening support for the lithium hydroxide market.
Market outlook
Analysts from SunSirs Lithium Hydroxide believe that in the short term, the upstream market is sluggish, with weak cost support, insufficient downstream demand follow-up, and a flat market atmosphere. It is expected that in the short term, the domestic lithium hydroxide market may continue to operate weakly, and more attention needs to be paid to market news guidance.
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