For the Quarter Ending March 2024
North America
In the first quarter of 2024, the North American lithium carbonate market continued to face challenges. The supply of lithium carbonate in the region remained moderate to high, as consumption remained sluggish and procurement levels stayed heavy from previous periods. The domestic automotive industry's demand for lithium carbonate remained low, reflecting the cautious approach taken by market participants.
Major manufacturers prioritized fulfilling long-term orders, resulting in lower domestic inventories of the product due to slow replenishments. One of the notable factors impacting the market was the increasing competition from Chinese electric vehicle (EV) manufacturers. This competition affected the profitability of US-based EV companies, adding further challenges to the market.
Additionally, high interest rates made financing expensive purchases even more costly, slowing down the adoption of electric vehicles worldwide. Despite persistent inflation in other consumer goods, the purchase of optional electric vehicles remained slower than predicted. This slower adoption contributed to the overall bearish sentiment in the North American lithium carbonate market. As of the current quarter, the price of Lithium Carbonate Battery Grade DDP USGC in the USA stands at USD 15000/MT.
APAC
During Q1 of 2024, the Lithium Carbonate market in the APAC region experienced a mix of factors that influenced its dynamics. The market saw a high supply of Lithium Carbonate, but the demand remained subdued, mainly due to lackluster demand from the domestic battery manufacturing industry. Moreover, the downstream lithium hydroxide market showed minimal demand, resulting in limited observable market activities.
Another significant development was the continuous decline in the prices of upstream spodumene, as reported by China. This decline further contributed to the decrease in manufacturing costs for Lithium Carbonate. The impact of this cost decline was evident in Japan, where the prices of Lithium Carbonate Battery Grade CIF Osaka dropped by 39% compared to the previous quarter. The market trend for Japan during the quarter was bearish, characterized by moderate supply and low demand.
However, there was a 13% increase in prices observed in the first and second half of the quarter. Furthermore, the market experienced multiple shutdowns and disruptions, which, combined with the overall market conditions, led to an increase in prices. Ultimately, the Lithium Carbonate Battery Grade CIF Osaka in Japan settled at USD 14450/MT for Q1 of 2024.
Europe
During the first quarter of 2024, the Lithium Carbonate market in Europe faced various hurdles that had a significant influence on prices. These challenges were similar to those encountered in the previous quarter, with oversupply being a key factor leading to decreased demand and subsequently lower prices. The sluggish demand from the lithium-ion battery manufacturing sector continued, as consumers remained cautious due to the declining prices.
Additionally, the dominance of the Chinese market in both Europe and the United States contributed to the overall bearish sentiment in the market. Chinese electric vehicle (EV) manufacturers, such as BYD, continued to witness substantial sales growth, surpassing Tesla as the leading global electric carmaker. This increased competition further impacted the profitability of European-based EV companies. However, Belgium stood out as an exception, experiencing a significant surge in sales of battery electric cars with a remarkable growth rate of 75.5%.
Despite this, the fierce pricing battle among European, US, and Chinese EV manufacturers persisted. Throughout this challenging period, the market experienced multiple shutdowns, resulting in disruptions that had a direct impact on prices. Despite these obstacles, there were some slight developments in the market transactions for Lithium Carbonate in Belgium during the quarter. The quarter-ending price for Lithium Carbonate Battery Grade DDP Antwerp in Belgium was recorded at USD 14,300/MT.
South America
In the first quarter of 2024, the South American Lithium Carbonate market demonstrates a pricing mixed trend, particularly in Chile. In the first month, Lithium Carbonate prices dipped in Chile due to persistent weak demand from downstream lithium-ion battery manufacturing industries globally. High inventory levels and subdued interest in procuring new supplies contributed to the decline. The Chinese market's sluggishness exerted pressure on global prices, while long-term orders were prioritized over immediate purchases.
Additionally, protests in Chile affected production briefly but had minimal impact on prices. In March, prices rebounded as Asian markets resumed activity after the holidays, and futures performance in China supported the increase. China's tariff adjustment plan eliminated import tariffs for lithium carbonate, affecting global markets. While European demand remained weak, the US market showed resilience, particularly in electric vehicle sales.
Despite steady demand in major markets, the overall pricing remained stable in Chile. International lithium prices rose due to tender pricing strategies by key players in Brazil. Chile's decision to open slat flats to private investors aims to boost domestic production, reflecting the government's lithium policy. Overall, market transactions were normal, with discussions settling Lithium Carbonate prices at USD 13,750/MT by March-end.
For the Quarter Ending December 2023
North America
The North American Lithium Carbonate market faced a bearish market sentiment throughout Q4 2023. The demand from the domestic automotive industry remained low, and downstream demand from lithium-ion battery manufacturing industries remained stagnant resulting in a decline in prices. The market witnessed adequate inventories of the product in the region, and imports remained consistent.
The offered quotes are anticipated to decline further from the exporting nations. The buyers remained cautious in the face of Asia's slump, and consumers were reluctant for new purchases, resulting in a strong wait-and-see consumer attitude. In the USA, the market situation remained bearish, and the supply was moderate to high.
The demand was low due to the low downstream demand from the domestic automotive industry. The latest prices of Lithium Carbonate Battery Grade DDP USGC settled at USD 18220/MT in the quarter ending December 2023. The price percentage change from the previous year's Q4 was -76%, and the price percentage change from the previous quarter was -66%. The price percentage comparison of the first and second half of the quarter was -32%. Overall, the North American Lithium Carbonate market experienced a bearish trend due to low demand and adequate supply.
APAC
The APAC region's Lithium Carbonate market remained bearish in Q4 2023 due to poor downstream demand from the battery manufacturing industry. The market had high supply, and demand was low, leading to a decline in prices throughout the quarter. The prices of imported goods were expected to decline further, and the market outlook remained suppressed. Japan had the most significant changes in prices, with a forecasted pricing trend that showed a decline of 7.5% to 2.1% for Lithium Carbonate Battery Grade CIF Osaka and Ex-Osaka. The downward pricing trend was due to imports of low-priced goods and low downstream demand. The prices of Lithium Carbonate in Japan had decreased by 6.5%, with a current quarter ending price of USD 17050/MT of Lithium Carbonate Battery Grade CIF Osaka. The market had a bearish sentiment, and the inquiries from the ESS market were presumed to remain poor. The inquiries from the downstream lithium-ion battery manufacturing industry had remained poor, and the inventories of the product were anticipated to remain high in the domestic market. The sellers were further lowering the prices, keeping the lithium prices at lower levels, and anticipating the possibility of restocking in the fourth quarter.
Europe
The Lithium Carbonate market in Europe during the current quarter of 2023 (Q4) faced significant challenges and experienced a downward trend in prices. The top three factors that impacted the market were weak demand from downstream industries, low-priced imports, and deteriorated business sentiments. The demand for lithium-ion batteries in the manufacturing sector decreased, leading to suppressed consumer inquiries. Additionally, the electric vehicle market exhibited a cautious attitude due to economic uncertainties. The dropping prices of Lithium Carbonate in China also influenced the European market. In Belgium, the prices of Lithium Carbonate decreased by 37% compared to the previous quarter and by 76% compared to the same quarter last year. The country experienced a bearish market situation with moderate supply and low demand. The supply outlook was affected by ample inventories in the region, while the demand outlook remained weak. No plant shutdowns were reported during this period. The quarter-ending price of Lithium Carbonate Battery Grade DDP Antwerp in Belgium was USD 18000/MT.
South America
During the fourth quarter of 2023, the lithium carbonate market in Chile demonstrated a bearish trend throughout the period. In October, Lithium Carbonate prices in the Chilean market experienced a further decline, primarily attributed to weak demand from downstream Lithium-ion battery manufacturers. Market participants noted sufficient material availability domestically as regional manufacturers maintained optimal production levels. Despite ample supply, demand from East Asian markets remained lackluster. Weak demand from China also affected European and US markets, influencing a downward price trend. Consumers in these regions were predominantly focused on securing long-term orders. In December, Lithium Carbonate prices in Chile continued to decrease due to poor demand from the downstream lithium-ion battery manufacturing industry. The global pricing downturn was significantly influenced by the weakness in the Asian market, particularly in China. Market participants reported sellers actively seeking to offload inventories quickly. SQM, Chile's second-largest lithium producer, reported a 56.4% plunge in third-quarter net earnings and the Q4 was no different due to plummeting lithium prices. Overall, the market witnessed minimal trading activities and remained sluggish in terms of transactions in the region. As of December 2023, the prices of lithium carbonate FOB San Antonio were assessed at USD 16700/MT.
For the Quarter Ending September 2023
North America
In North America, the price of lithium carbonate continued to decline during the third quarter of 2023. This decline can be attributed to factors such as ample inventories, low import prices, and intensified competition among exporting nations. Notably, within the US market, the prices of lithium carbonate fell due to low demand and an oversupply of the product. Market players in Chile adjusted their profit margins in response to heightened competition with China, aiming to attract more consumers. Inquiries into the product revealed that there were significant inventories of electric vehicles (EVs) with dealers, even though there was an increase in electric vehicle sales. This dynamic reflects weak investor sentiment, largely influenced by the slow recovery of the Chinese economy throughout the quarter. The demand from downstream lithium-ion battery manufacturing and Energy Storage System (ESS) manufacturers remained weak, leading to unfavorable sentiments in the region. As of September 2023, lithium carbonate prices were assessed at USD 29,000 per metric ton.
APAC
In the third quarter of 2023, in the Asia Pacific region, lithium prices experienced a decline for several reasons, including ample inventory, limited demand from downstream industries, and low import prices. The price of lithium carbonate in South Korea followed a bearish trend throughout the third quarter due to an economic slowdown in the exporting nation, China. This economic downturn resulted in an oversupply of lithium carbonate in the market. The decline in lithium carbonate prices can be attributed to the absence of significant changes in the relevant factors affecting final prices, including those for lithium carbonate batteries. In response to increased inventory levels and weak demand, China, a major exporting nation, lowered its quoted quotations. Despite this, downstream inquiries from battery manufacturing industries remained stable, particularly in light of increased sales of electric vehicles. Overall, the supply chain operations in the region operated smoothly, and there were no significant reports of port congestion or supply chain constraints. As of September 2023, discussions regarding Lithium Carbonate Battery Grade CIF-Osaka resulted in a settled price of USD 26,376 per tonne.
Europe
In Europe, the price of lithium carbonate experienced a sustained decline throughout the third quarter of 2023. This decline was primarily attributed to factors such as a reduced production rate, limited market inquiries, weak demand from the downstream sector, and low import prices. Notably, in Belgium, lithium prices remained consistently low during the entire third quarter. The outlook for Lithium Carbonate in the Belgian market exhibited a bearish trend due to a surplus of product inventories in the region. Moreover, there was a reduced frequency of imports during this period. It is worth noting that there were no significant instances of port congestion or supply chain constraints reported for the quarter. Meanwhile, the demand within the lithium-ion battery manufacturing industry saw a noticeable decline, with consumer inquiries being notably subdued. This decline was further exacerbated by uncertainties surrounding economic conditions and a general downturn in business sentiments. In the electric vehicle market, consumers adopted a cautious "wait-and-see" approach. As of September 2023, the assessed price for lithium carbonate stood at USD 29,000 per metric ton.
South America
The lithium carbonate market in South America observed a bearish pricing trend in the third quarter of 2023. The major exporting nation Chile continued to lower the product prices amid dropping consumer demand. The price of lithium carbonate in Chile fell in July due to lower demand from the downstream battery manufacturing sectors in Asia, Europe, and North America. In mid-Q3, Chile's President declared the nationalization of lithium deposits, which resulted in a drop in lithium stocks throughout the world. Overall, demand in the downstream lithium-ion battery manufacturing industries remained firm, with a jump in new purchase orders in August. The supply chain is currently being reorganized. Core Lithium Ltd reported low production expectations for fiscal years 2024 and 2025. Lithium investor sentiment became negative. The Asian market's inquiries were slow since industry players reported sufficient stockpiles of the commodity in the area. According to market participants, slower product offtakes were recorded due to larger inventories in the domestic market. In the North American market, however, the demand prognosis from the downstream lithium-ion battery manufacturing sectors was stable, and firm new purchase orders were recorded. As of September, the prices of lithium carbonate were assessed at USD 25500 per metric tonne.
For the Quarter Ending June 2023
North America
Following the 1st quarter of 2023, Lithium carbonate prices tumbled to DDP USGC(USA) USD 54700/tonne. In the second week of May price of lithium carbonate decreased further, around 2.1% in the US market as the largest exporter among South American manufacturers; Chile reduced its charges to allure its downstream lithium-ion battery manufacturers and other players. The temporary inactivity of the northeast Asian downstream market impacted the demand percentage growth. Moreover, the Overall lithium carbonate market is stabilized in the USA, assisted by the slowdown in new orders and the slippery slope of export sales. The supply chain operating at optimum levels, and sufficient inventories of the product were reported. However, the supply gap widening and thriving demand for EV batteries mean that these relatively lower prices may not last long. The surge in the spot market prices of Lithium carbonate in the Asian market resulted in the decline of the offered quotes in the region as the market participants lowered the profit margins amidst rising market competition.
South America
For the 2nd quarter of 2023, the prices are still following the bearish trajectory in the South American market and stabilized at USD 46700/tonne in the month of June 2023. This continuous decrease is due to some facts such as the world hunger for Chilean Lithium, the increasing rate of billion dollars of investment for new strategy development in Chile to meet global demand, maximize the benefits to its people, and environmental sustainability. Further, Chile is focusing on upscaling its domestic inventory and widening its supply chain, as Chile owns 36 percent of economically recoverable lithium reserves and accounts for about 26 percent of global production; hence any setback to Chile’s lithium carbonate supply would add a major percentage in global lithium supply deficit and thus higher battery cost. The Chilean government does also mark a good score in the global competition by making partnerships with private sector companies that possess world-renowned technical expertise and financial resources to expand sustainable production.
APAC
The price trend of the first half of Q2 also follows the bearish trajectory of the last month of 1st quarter, 2023, and closed the window at USD 25900 (Ex-Shenzhen, China) due to low price pressure from the upstream market. In the second half, the prices bounced back and hit the price of USD 43700 (Ex-Shenzhen, China). The domestic inventories started drying up as it became very difficult for domestic players to procure raw materials due to the inadequacy of upstream lithium mica and the sluggish pace of the lithium carbonate manufacturing rate. If we look around the demand scenario, several facts are playing there, such as shifting consumer preference to Electric vehicles (EVs) from traditional ICE cars, Foreign major player investments, all of which set the demand rocket high, valued at around 964,000 tonnes/year. Further, as per economic experts, a lithium supply deficit will continue until 2027, at which point production will overtake demand. As it will take a decade for the lithium mines to get run, it is estimated by the demand-supply curve that the market will see a price surge of Lithium.
Europe
At the start of 2nd quarter of 2023, due to declining demand from the downstream Electric vehicle(EV) industry, the market sentiments for lithium carbonate slept down in April. The export data also shows a downfall in nature due to declination in the demand curve slope of the Asian battery manufacturing industry. Some other facts playing behind are the lack of competitiveness of the market participants, consumer tendency to purchase goods at a lesser amount both domestically and internationally, etc. The supply outlook in the Belgium market is also bearish because adequate inventories of the product is available in that region. All the port operations and supply chains are running smoothly without any constraints. In May, the market sentiment dropped further in the domestic market of Belgium due to the lowering of price pressure from the major exporter Chile. Also, the demand strength from the downstream lithium-ion battery manufacturing industry and Energy storage system (ESS) market seemed to be weaker.
For the Quarter Ending March 2023
North America
In the first quarter of 2023, the market of Lithium Carbonate plunged in the US domestic market. In January, the market prices dropped amidst restricted market activities in the Asian region, and the regional market competition dropped amongst the downstream EV manufacturers. In February, the prices tumbled further amidst a wait-and-see consumer market attitude in the region as the Asian market participants reported a drop in electric vehicle sales and built-up inventories. Whereas in March, due to a decline in new orders and slipping export sales, the market prices of Lithium Carbonate slipped down in the region. Thus, the Lithium Carbonate Battery Grade DDP USGC settled at USD 66208 per tonne at the end of Q1 2023.
APAC
In the first quarter of 2023, the offered quotations for Lithium Carbonate dropped considerably in the Chinese domestic market. In the first month of Q1, the prices dropped amid the end of NEV subsidies, so downstream players were cautious about procuring new batches. In the second month of Q1, built-up inventories of Lithium Carbonate were reported in the region. The outlook remained weak, and the market sentiments remained in negative territory due to a drop in electric vehicle sales. In the last month of Q1, the market prices declined further due to high inventories in the region, even though the lithium salt plants reduced production. The demand from the downstream battery manufacturing industries was weak, and the goods were sold at lower prices amidst an oversupply situation. Thus the prices of Lithium Carbonate Ex-Shenzhen settled at USD 47267 per tonne at the end of Q1 2023.
Europe
In the first quarter of 2023, the overall market prices of Lithium Carbonate rode the downward trajectory in the Belgian domestic market. In January 2023, the offered quotes plunged, moving identically to the Asian market. In addition, the rising inflation and energy prices kept the operating rates restricted. In February, the prices dropped due to weaker demand from the Asian market players leading to restricted exports of the product and uncertainties regarding the economy. In March, the prices dropped further due to lacking market competitiveness from the Asian markets and the wait-and-see consumer market sentiments across the globe. Thus, the offered quotes for Lithium Carbonate Battery Grade DDP Antwerp settled at USD 66171 per tonne at the end of 2023.
For the Quarter Ending December 2022
North America
In the fourth quarter of 2022, the Lithium Carbonate market in North America persists on an upward trajectory, although the growth pace has dropped. This development has been majorly attributed to the slowdown in EV sales in the APAC region. The overall market sentiments for Lithium Carbonate offers remained constant on a bullish run for the majority of the first half. In November, the discussions were consistently moved upwards, and the cost support from the feedstock was sufficient to support the offered quotations in the domestic market. On a year-on-year basis, numerous market participants, such as Albemarle, stated that the organization had soared its profits by seven folds during the third quarter of 2022. As a ripple effect, the DDP USGC discussion for Lithium Carbonate was assessed at USD 75575 per tonne in November 2022.
Asia Pacific
Overall, the Lithium Carbonate market in the Asia Pacific region observed a slight slowdown in the latter half of the quarter. The offers for Lithium Carbonate traced a downward trajectory for the second term in 2022 after rallying 1200% since the levels in 2019. The market has been primarily impacted by the revocation of the state-sponsored New Energy Vehicle (NEV) subsidies. That concerned the domestic manufacturers regarding offtakes for cathode materials to counter the impact of the downstream player's slowdown of the procurement of raw material, impacting the offers for Lithium Carbonate in the domestic market. At the same time, the far-east Asian market players have restricted the cash outflow from the organization to showcase a better financial performance on the annual report. In response, inquiries for new procurement have dropped in the fourth quarter, and the CIF Busan discussions for Lithium Carbonate were assessed at USD 80149 per tonne in December 2022.
Europe
Overall, the Lithium Carbonate market in the European region has witnessed mixed sentiments throughout the fourth quarter of 2022. In the first month, the offers have remained bullish on an upward trajectory prompted by the market rebound post-summer holidays. However, the drop in sales of EVs in APAC and soaring inflation with hiked interest rates have made the market players reluctant towards hasty buying streaks. In addition, the increment in the energy cost has substantially impacted the operating rates at the manufacturing facilities, curtailing the offtakes volumes by a considerable margin. In response, the DDP Antwerp discussions for Lithium Carbonate were assessed at USD 75975 per tonne in December 2022.
For the Quarter Ending September 2022
North America
In the third quarter of 2022, the Lithium Carbonate market witnessed a staggering upwards trend. This development is majorly attributed to the consistent soaring dynamics of the EVs market in the North American region. The offtakes have remained constant, and the availability in the spot market has remained staggering. According to major market players, the delivery date has slipped to the end of the first quarter of 2023 for the overseas market participants. In the current supply-demand scenario, it has been estimated that to match rising demand, the expansion of 59 new mines with a minimum capacity of 45KTPA was required, with proper recycling infrastructure by 2035. Although, in the current market dynamics majority of the supply was concentrated toward contractual deliveries against the tight supply outlook. As a ripple effect, the DDP USGC discussions for Lithium Carbonate were assessed at USD 72960 per tonne during the quarter ending September 2022.
Asia Pacific
Overall the Lithium Carbonate market in the Asia Pacific region remained bullish in the domestic market. Thus development is majorly attributed to the mismatched supply-demand dynamics of Lithium Carbonate. The demand constantly inclined against the depreciating supply outlook as the operations at several facilities were curtailed. At the same time, Tianqui and Yahua Lithium suspended their operations temporarily. As a ripple effect, the supply was pressurized, whereas the demand soared tremendously ahead of the peak rush in the Chinese domestic market. The Ex-Shenzhen discussions for Lithium Carbonate were assessed at USD 72994 per tonne. Most quotes in domestic currency growth do not reflect in USD amidst the depreciation of CNY against the USD in the third quarter.
Europe
Overall the Lithium Carbonate market in the European region was muted for the majority of the third quarter due to the prolonged summer holidays. The spot arbitrage and operation at the downstream manufacturing facilities remained subdued, and the offers for the Lithium Carbonate on DDP Antwerp were assessed at USD 74622 per tonne during the quarter ending in September. In mid-September, as the market activities across Northwest Europe resumed, the European Union passed the "Critical Raw Material Act" to secure the supply of Lithium and rare earth metal. Its demand is anticipated to increase by five folds by 2030 to replace oil & gas in an ambition to become the climate-neutral continent. The Critical Raw Material Act will help focus on strategic applications, networking amongst the European agencies, a more resilient supply chain, and a solid & sustainable level playing field.
For the Quarter Ending June 2022
North America
Overall, the Lithium Carbonate market in the North American region majorly remains affected by the conflict in the eastern European region. The retaliatory sanctions on Russia by the US, and the EU, with the help of several other nations, hindered the supply of the critical essential raw material that was used in the production of EV battery raw materials. At the same time, the resurgence of COVID in China has kept the benchmark prices for Lithium Carbonate sluggish in the international market. Albemarle, a major specialty chemical company in the US, is investing heavily in the South American market to ensure a long-term supply of lithium ores. As a ripple effect, the discussions for Lithium Carbonate for DDP USGC were assessed at USD 67200 per tonne during the quarter ending in June 2022.
Asia Pacific
In the second quarter of 2022, the Lithium Carbonate market in the Asia Pacific region observed a significant downtrend amidst the sudden drop in domestic inquiries. After the COVID resurfaced in China, EV production took a tremendous toll as the disruption in the downstream supply chain impacted the vital raw materials market due to a sudden plunge in the overall demand outlook in China. Several Electric Vehicle facilities reduced their output, and numerous sites halted their production due to insufficient supplies of the essential auto parts. The overall development due to COVID, coupled with the Chinese authorities' probe over the rising prices of Lithium, challenges the sustainable transition toward a greener economy. As a ripple effect, the Ex-Shenzhen discussion on Lithium Carbonate was assessed at USD 72155 per tonne during the end of Q2 2022.
Europe
During the second quarter of 2022, the overall sentiments for Lithium Carbonate in the European market observed a bearish trend in the offered quotations. This development is majorly attributed to the retaliatory measures against Russia by the US, and the EU, with the help of several other nations, which hindered the supply of the critical essential upstream materials that were used in the production of EV battery raw materials. At the same time, the supplies from China were also delayed as operations were restricted amidst the resurgence of COVID in China. However, the benchmark prices for Lithium Carbonate remain in a downtrend. Therefore, the DDP Antwerp discussions for Lithium Carbonate were settled at USD 67800 per tonne during the quarter ending in June 2022.
For the Quarter Ending March 2022
North America
In the first quarter of 2022, the Lithium Carbonate market sentiments maintained bullish identical to the last quarter. After the COP 26 discussion concluding, a rapid transition towards a greener economy was observed. The domestic players rushed to capture the larger market share and poured the investment into developing new projects and technology for the Lithium Carbonate manufacturing. The demand outlook strengthened exponentially and outweighed the supply capabilities, creating a significant delivery lag and an unprecedented surge in the producer's quotations. As a ripple effect, the DDP USGC (USA) discussions for Lithium Carbonate averaged USD 59000 per tonne during the quarter ending March 2022.
Asia Pacific
Since July 2021, the Lithium Carbonate market in the Asia Pacific has consistently maintained bullish sentiments for three quarters straight. The prices of Lithium Carbonate achieved unprecedented gains straight for nine months. In the first quarter of 2022, major producers of Lithium Carbonate in China put their facilities on maintenance ahead of the Lunar New Year Holidays. Although the production resumed by mid-February, the operational rates didn't reach total capacity until end-February. In response, it widened the gap between the supply-demand as the inquiries dominated the supply capabilities in the Chinese domestic market. Therefore, the Ex-Shenzhen discussions for the Lithium Carbonate by the quarter ending settled at USD 74750 per tonne in March 2022.
Europe
During the first quarter of 2022, the Lithium Carbonate in the European market consistently soared amidst the tightened supply against the exceptional demand outlook. The market competitiveness soared ahead of the Chinese Lunar New Year holidays as the arbitrage will remain disturbed for two weeks. Whereas in the second half, the conflict in the eastern European region hindered the domestic production capabilities as the sturdy stance of the European authorities restricted its trade with Russia impacted the supplies of raw materials. In addition, after the conflict broke out between Russia and Ukraine, the Suez canal authorities decided to raise the tax rates by 5%, which implemented an additional cost to the supplies from the Asia Pacific market.
For the Quarter Ending December 2021
North America
During Q4 2021, the Lithium Carbonate market in North America witnessed persistent growth. The factors impacting the offers of Lithium Carbonate in Q3 prevailed its impact in the current quarter. Whereas, the congestion from Northeast Asian ports and the limited availability of freight vessels induced additional cost support and delayed the deliveries of Lithium Carbonate to the US domestic market. As a ripple effect, the offers of Lithium Carbonate soared by 38.74% quarter on quarter, and the DDP USGC (USA) prices were assessed at USD 28200 per tonne during the Q4 ending.
Asia Pacific
In the fourth quarter of 2021, the Asia Lithium Carbonate market maintained its persistent growth, and the prices exceeded by 33.34% compared to the estimated projected offers by the December end. The surge in the quotations was majorly focused in the second half of the quarter. As the world transitioned towards a greener economy, numerous global EV producers raced to secure the supplies of Lithium Carbonate, a key component of EV battery manufacturing. As a ripple effect, the offers for Lithium Carbonate in Northeast Asia surged by 24.82% in the Q4 and the Ex-Works Shenzhen (China) discussion were settled at USD 35200 per tonne during the quarter ending.
South America
After the COP 26 meeting held in Glasgow, numerous EV battery manufacturers were eager to ensure long-term supplies of Lithium in the fourth quarter. Whereas, the Chilean authorities recently announced to form state-owned Lithium miners to manage the country’s Lithium Triangle. However, as the demand exceeded the domestic supply outlook it forced the producers to raise the quotations for Lithium Carbonate by 50.87% compared to the starting of the fourth quarter. As a ripple effect, the FOB San Antonio discussions for Lithium Carbonate Battery Grade were assessed at USD 28050 per tonne, during the quarter ending.
