Since November, the lithium hydroxide market has declined. According to the Commodity Market Analysis System of SunSirs, as of November 9th, the average price of industrial grade lithium hydroxide enterprises in China was 198,000.00 RMB/ton, a decrease of 1.98% compared to the beginning of the month (202,000.00 RMB/ton) and a decrease of 65.86% compared to the same period last year.
Analysis review
Entering November, the price of lithium hydroxide in the market has steadily declined, with no significant improvement in downstream demand, weak fundamentals, and a calm trading atmosphere in the market.
Cost side impact:
According to the analysis system chart of the commodity market of SunSirs, the industrial grade lithium carbonate market had shown a downward trend since November, with a strong cautious wait-and-see sentiment in the market and insufficient support for the lithium hydroxide market. The recent weak and stable prices of upstream spodumene concentrate had limited support for the lithium hydroxide market.
Supply and demand impact:
The recent market transactions were mainly long-term orders, with weak downstream demand for high nickel materials. Inquiry procurement was cautious and rigid, and supply and demand support for lithium hydroxide market was weak. The market trading atmosphere was light.
Market outlook
SunSirs’Lithium Hydroxide Analyst believes that recently, the upstream lithium carbonate price was weak, and the price of spodumene concentrate was temporarily stable. There was insufficient support for the positive performance of the lithium hydroxide market, and downstream inquiry procurement enthusiasm was not high. It is expected that in the short term, the domestic lithium hydroxide market may be weakly consolidated, and more attention should be paid to market news guidance.
