According to the monitoring data of SunSirs, as of October 17, the average price of lithium hydroxide of domestic industrial lithium hydroxide enterprises was 505,000.00 RMB/ton, 4.84% higher than that on October 8, 6.69% higher than that in a three-month cycle, and 203.61% higher than that on the same period last year.
Analysis review
Recently (10.8-10.17), the market price of domestic industrial lithium hydroxide rose. The upstream spodumene price was high, and the cost support was still strong. Influenced by the rise of lithium carbonate market in the upstream, the market mentality was boosted, and the increase in demand side drove the lithium hydroxide enterprise's offer up.
The upstream lithium carbonate, according to the monitoring data of SunSirs: after the National Day holiday, the prices of industrial and battery grade lithium carbonate continued to rise. On October 14, the reference price of lithium carbonate was 521,000.00 RMB/ton, an increase of 3.95% compared with October 1 (501,200.00 RMB/ton).
Market outlook
The lithium hydroxide analysts of SunSirs believe that the market is still supported by positive factors, driven by upstream lithium carbonate and the steady growth of demand. It is expected that in the short term, the market price of domestic industrial lithium hydroxide will be dominated by firm operation, and more attention should be paid to the market news guidance.
