According to the monitoring of the commodity market analysis system of Business Society, the prices of industrial grade and battery grade lithium carbonate showed a mixed trend in April, maintaining a range of price fluctuations. On April 30th, the average domestic mixed price of industrial grade lithium carbonate was 108400 yuan/ton, an increase of 1.31% compared to the average price of 107000 yuan/ton on April 1st. On April 30th, the average domestic mixed price of battery grade lithium carbonate was 115400 yuan/ton, a decrease of 0.52% compared to the average price of 116000 yuan/ton on April 1st.

By observing market changes, it can be seen that the price of lithium carbonate maintained an upward trend in early April. In terms of supply, smelting enterprises generally have a more obvious reluctance to sell individual orders, while the sentiment of individual orders supporting prices has not changed significantly. Most lithium salt enterprises have raised their prices. In addition, the current inventory level of salt lake enterprises is relatively low, and the overall production recovery pace of lithium salt recycling enterprises is generally slower than that of raw material lithium salt enterprises. This makes the overall supply of spot liquid goods tend to be tight.

In terms of demand, during the Qingming holiday, the trading status of the spot market was basically stagnant, and downstream enterprises such as positive electrodes basically maintained their normal production rhythm by consuming existing inventory. After the end of the holiday, downstream market inquiries are more active, and companies are more likely to purchase essential goods to replenish inventory, which also drives the overall transaction price focus to gradually increase.

In mid to late April, the price difference between industrial grade lithium carbonate and battery grade lithium carbonate continued to narrow, and the price decline of electric carbon was greater than that of industrial carbon. In terms of supply, the production recovery and profit margin restoration after maintenance by lithium salt enterprises have led to a continuous increase in lithium carbonate production. With the rise of domestic temperatures, the mining and production of lithium salts have been relatively smooth. Except for long-term contract orders, lithium salt enterprises have continued to maintain a positive attitude towards selling individual orders, and the price of individual orders has not changed significantly.

In terms of demand, downstream positive electrode enterprises purchase low-priced goods from a small number of lithium salt enterprises and the trading market to supplement the supply of scattered orders outside the long-term contract. However, their wait-and-see sentiment rises as prices fall, and there has been no replenishment action by positive electrode enterprises in the spot market. However, most enterprises have completed the stocking during the May Day period, and currently have no urgent purchasing ideas. They are generally waiting for lower or more favorable prices in the future market before proceeding with essential purchases, resulting in a relatively light overall situation of individual transactions in the market.

The market price of lithium hydroxide fluctuated slightly in April, with strong cost support for upstream spodumene concentrate and lithium carbonate prices. The supply side finished product inventory was in the middle range, and downstream high nickel production was extremely stable with an increase. The market inquiry atmosphere was active, but the mentality of following up on high priced raw materials was still cautious, with low rigid demand as the main focus. The market wait-and-see atmosphere was strong, and prices fluctuated and rose narrowly. At the end of the month and before the holiday, there has been an increase in downstream rigid demand stocking, and enterprises are observing the market to adjust their prices flexibly and ship according to the market. The lithium hydroxide market fluctuates narrowly.

Downstream prices of lithium iron phosphate continued to rise in April, while upstream prices of iron phosphate and lithium carbonate were dominant, forming favorable support on the cost side. The demand terminal new energy vehicle market is showing a continuous upward trend, and the market share is also constantly increasing, which is beneficial for the demand for lithium iron phosphate. The export volume of lithium iron phosphate has also continued to rise, and in the context of the transformation of new energy, the new energy storage market has shown strong growth momentum.

In terms of futures, the price of lithium carbonate futures in April maintained a range of fluctuations and consolidation. On April 30th, the opening price of the LC2407 contract for lithium carbonate futures on the Guangzhou Futures Exchange was 116000 yuan/ton, with a highest price of 117200 yuan/ton and a closing price of 111450 yuan/ton, a daily decline of 2.15%. The trading volume was 242300 lots and the position was 179848 lots.

According to lithium carbonate analysts from Business Society, the current market’s May Day holiday inventory of raw materials is also nearing its end, and downstream enterprises have little willingness to purchase. The market has entered a state of price but no market. From the current procurement and sales situation and attitudes of both supply and demand sides, the overall fluctuation of lithium carbonate prices is jointly limited. However, with the continuous recovery

of the supply side, it is expected that the short-term price of lithium carbonate will remain stable and wait-and-see.