There has been no improvement in the end demand side. The inquiry atmosphere in the lithium battery market is not good
2023/10/27
Positive electrode material market: Due to the reduction of downstream orders, the ternary material market has shown a sluggish trend, with prices dropping from 210000 yuan/ton in early August to 165000 yuan/ton currently, with a decrease of 45000 yuan/ton; According to customer feedback, it is expected that the trend of ternary materials will continue to be sluggish in the fourth quarter, and downstream customers have weak purchasing intentions;
Lithium iron phosphate market: Upstream lithium carbonate manufacturers have operated at lower prices than expected, resulting in overall weak market performance. The market price of power type lithium iron phosphate remains between 60000-64000 yuan/ton. The price of anhydrous iron phosphate has remained stable with minor fluctuations, and overall cost support has weakened. In terms of downstream batteries, there is currently a tightening of upstream procurement policies due to fluctuations in lithium carbonate prices, resulting in a strong wait-and-see sentiment in the overall market. Market trading is still dominated by long orders, and it is expected that lithium iron phosphate may slightly decline in the short term.
Supported by the "Double 11 Promotion" activities in downstream consumer electronics markets such as laptops and digital cameras, the demand for digital electronics has performed reasonably well. However, due to the rapid decline in the price of raw material lithium carbonate and insufficient cost support, the price of lithium cobalt oxide also followed suit. The price dropped from 280000 yuan/ton quoted in early August to 222500 yuan/ton, with a decrease of 57500 yuan/ton. According to customer feedback, the stock has been basically completed before the Double 11 event, and the market may enter a low season in the later stage, with supply possibly weakening.
The overall changes in the lithium manganate market are not significant, and the current market is still in the traditional consumption off-season. The lithium manganate market is also affected by the decline in cost, with a significant price decline. It is understood that there is a significant gap between the high and low end of the lithium manganese oxide market, and high-end product enterprises mainly customize according to customer requirements, with a quotation of 70000 yuan/ton. And low-end products are mostly suitable for the small power market, such as power electric vehicles, balance cars, etc. The quotation is 60000 yuan/ton.
In the later stage, it is predicted that with no significant improvement in terminal demand, the overall inquiry atmosphere in the lithium battery market is not good, and downstream buyers have a strong pressure on prices. In the early stage, the price increase operation of lithium salt enterprises was not as expected, and the transaction focus of the lithium carbonate market showed a downward trend; Under the spread of bearish sentiment in the overall market, it is expected that the prices of positive electrode materials will remain stable and mainly decline, and the demand in the end market may enter the off-season ahead of schedule.
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