SunSirs: The Lithium Hydroxide Market Declined in December
December 29 2023 10:20:20 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, as of December 26th, the average price of industrial grade lithium hydroxide in China was 133,600.00 RMB/ton, a decrease of 22.60% compared to December 1st.
Analysis review
The domestic lithium hydroxide market continued its downward trend in December. Within the month, the upstream lithium carbonate price weakened, the upstream spodumene concentrate market operated weakly, and the cost side continued to decline. The downstream demand for high nickel materials on the demand side was insufficient, and the market shipments were average. Merchants carefully followed up at low prices when purchasing goods. The lithium hydroxide market transactions were mainly long-term contract orders, and the spot market atmosphere was light. Holders stimulated orders at low prices, and the focus of lithium hydroxide negotiations weakened.
Upstream lithium carbonate: According to the commodity market analysis system of SunSirs, on December 26th, the reference price for lithium carbonate industrial grade was 95,800.00 RMB/ton, a decrease of 22.37% compared to December 1st (123,400.00 RMB/ton). The lithium carbonate market declined in December, weakening support for the lithium hydroxide market.
Market outlook
According to Lithium Hydroxide analysts from SunSirs, the cost support was weaker, downstream procurement was slow to follow up, market trading enthusiasm was not high, and there was a strong wait-and-see atmosphere. It is expected that the domestic lithium hydroxide market will continue to consolidate weakly in the short term.
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