Chinese language LFP battery business will increase lithium carbonate demand, drives costs up – report

In response to Fastmarkets, provides for battery-grade lithium carbonate proceed to rise in China, primarily because of the elevated demand from the ramp-up of lithium-iron-phosphate battery manufacturing this yr and customers restocking earlier than the Chinese language New 12 months vacation.

The file notes that spot models of battery-grade lithium carbonate have been scarce in China, with a number of main Chinese language lithium producers already bought out. 

“On the provision aspect, some Chinese language lithium producers are in upkeep and [their facilities] are being shut down in January or throughout Beijing Winter Olympics,” the doc reads. “Regardless of the present excessive costs for battery-grade lithium carbonate, market members are nonetheless bullish. They count on costs to rise even additional within the first quarter of 2022 amid tight provide and agency demand.”

Citing a Chinese language lithium dealer, the value reporting company additionally talked about that the shortage of technical-grade lithium carbonate – the everyday feedstock for battery-grade lithium carbonate manufacturing – within the spot market is being broadly felt with some producers not having the ability to fulfil their long-term contracts.

Fastmarkets’ worth evaluation for lithium carbonate 99% Li2CO3 min, technical and industrial grade, spot worth vary exw home China was $43,900-45400 per tonne on Thursday, up by $1,500 per week earlier. 

“The shortage of battery-grade lithium carbonate and its quickly rising worth additionally buoyed that of battery-grade lithium hydroxide in China, with restricted provide proving further assist,” the report reads.

Fastmarkets’ worth evaluation for lithium hydroxide monohydrate, LiOH.H2O 56.5% LiOH min, battery grade, spot worth vary, exw home China was $37,600-29,200 per tonne on Thursday, up by $780-1,565  per tonne per week earlier.

“The value hole between battery-grade lithium hydroxide and carbonate is extensive sufficient for changing lithium hydroxide into carbonate,” the file states. “As such, the value of lithium hydroxide of the identical grade was additionally pushed up, since demand elevated with such conversions going down.” 

Fastmarkets’ evaluation of lithium carbonate 99.5% Li2CO3 min, battery grade, spot worth ddp Europe and US was $34-36 per kilogram on Thursday, up by $2 per kg from $32-34 per kg per week earlier. Equally, the agency’s evaluation of lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, spot worth ddp Europe and US was at $35.00-36.00 per kg on Thursday, up by $2.50 per kg from $32.50-33.50 per week earlier.

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