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According to the monitoring of the commodity market analysis system of Business Society, industrial grade lithium carbonate and battery grade lithium carbonate have shown a slight decrease after the Spring Festival holiday. On February 22, 2024, the average domestic mixed price of industrial grade lithium carbonate was 91000 yuan/ton, a decrease of 0.44% compared to the average price of 91400 yuan/ton on February 18. On February 22, the average domestic mixed price of battery grade lithium carbonate was 99000 yuan/ton, a decrease of 1.79% compared to the average price of 100800 yuan/ton on February 18.

By observing market changes, it can be seen that the price of lithium carbonate remains weak in the first week after the holiday. In terms of supply, due to the maintenance, reduction, or shutdown plans of most lithium salt enterprises before and after the Spring Festival, their short-term production is gradually recovering, and the overall supply of lithium salt enterprises in the market has decreased. At present, most companies continue to adopt a strategy of selling individual orders at high prices, but some lithium salt companies that operate normally have slightly lowered their prices compared to the high prices before the holiday.

In terms of demand, due to downstream enterprises such as the positive electrode market replenishing and stocking up before the holiday, there is no urgent procurement demand after the holiday. Most of them wait for market prices to fall and orders to be confirmed before purchasing. The downstream market as a whole still adheres to the strategy of long-term cooperative delivery and low price purchasing to supplement individual orders, resulting in a downward focus on spot market transaction prices.

The market situation of lithium hydroxide is mainly stable, while the industrial grade lithium carbonate market remains stable with little movement after the holiday. Upstream spodumene concentrate prices remain stable, with limited cost support. Some factories are still in the recovery stage of operation, and downstream markets have sufficient reserves before the holiday. Therefore, post holiday demand is weak, and market transactions are still mainly based on long-term contract orders.

Downstream prices of lithium iron phosphate remain stable, and after the Spring Festival, enterprises will replenish their inventory in a timely manner based on the level of raw material inventory. The market will remain calm and cautious. Subsequently, due to the rebound in operating rates of various enterprises, the supply-demand relationship and market prices may change.

In terms of futures, on February 22, 2024, the opening price of the LC2407 main contract was 96950 yuan/ton, with a highest price of 98450 yuan/ton and a closing price of 97650 yuan/ton, with a daily increase of 0.1%. The transaction volume was 119500 lots and the position was 166013 lots.

According to analysts from Shengyishe Lithium Carbonate, the current market is in a post holiday recovery stage, and the pre holiday market is relatively well stocked. Therefore, market procurement is relatively flat, and raw materials are mainly purchased to replenish inventory when prices are low. It is expected that the short-term spot price of lithium carbonate will be mainly on the wait-and-see side.

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