SunSirs: The Ferrous Lithium Phosphate Market Was Weak and Downturn (January 1-5)
January 08 2024 11:28:54 SunSirs (John)
Price trend
According to the analysis system of the commodity market of SunSirs, as of January 5th, the average price of high-quality power grade ferrous lithium phosphate was 45,000 RMB/ton. The price of ferrous lithium phosphate was mainly weak, with a 2.17% decrease compared to the same period last week and a 12.11% decrease compared to the same period last month. The upstream favorable support was weak, downstream demand was insufficient, and there was a lack of upward momentum for lithium iron phosphate.
Analysis review
This week, the price of ferrous lithium phosphate maintained a weak downward trend, and the overall market negotiation atmosphere was lukewarm. The price of ferrous lithium phosphate fell by 2.17% this week, a decrease of 12.11% compared to the same period last month. As of January 5th, downstream demand for ferrous lithium phosphate was insufficient, inventory was running at a high level, inventory pressure still existed, consumption was slow, manufacturers were operating under pressure, and a pessimistic attitude was obvious. Downstream replenishment was mainly based on demand, with main supply to contract customers and overcapacity, There was a strong wait-and-see atmosphere in the lithium battery market.
Chemical index: On January 4th, the chemical index was 876 points, a decrease of 1 point from the previous day, a decrease of 37.43% from the highest point in the cycle of 1,400 points (2021-10-23), and an increase of 46.49% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to 2011-12-01 present).
Market outlook
Ferrous lithium phosphate Analysts from SunSirs believe that in the short term, ferrous lithium phosphate will continue to operate weakly, with insufficient upward momentum.
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