Lithium Prices have Skyrocketed by 100%!
OFweek 2023-06-08
On Jun. 5, Shanghai Steel Federation released data showing that battery grade Lithium carbonate rose CNY2500/ton per day, with an average price of CNY307500/ton, and industrial grade Lithium carbonate rose CNY2500/ton per day, with an average price of CNY292500/ton.
For comparison, on Apr. 26, the average price of battery grade Lithium carbonate was CNY180000/ton; The average price of industrial Lithium carbonate is CNY146500/ton. That is to say, the average price of battery grade Lithium carbonate has increased by 70.83% in just 40 days since April 26; The average price of industrial Lithium carbonate rose by 99.66%. This is already a double increase.
On May 15, when lithium prices rose 11 times in a row, Weike Lithium Electric believed that "with a daily rate of nearly CNY20000/ton, it is not expected to 'brake hard', and there is still some room for inertia to rise.
It now appears that the daily increase in lithium prices has slowed to CNY2500/ton, and there may be little room for further increases in the future.
From the perspective of industrial development, the continuous rise in the price of battery grade Lithium carbonate will impact the profits of downstream manufacturers. Although the rise in lithium prices has thickened the profits of upstream lithium mining enterprises, it will significantly increase the material costs of battery factories and car companies, which is detrimental to the development of the industrial chain.
We hope that lithium prices will remain within a reasonable range in the future.
Issued by Tom, M&S, Jun. 8, 2023.
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