Platts North Asia Lithium Assessment

Platts CIF North Asia China Lithium Assessments by S&P Global Commodity Insights are based on market information, including, but not limited to, firm bids and offers, and trades reported to the editor each week. Our assessments reflect responsibly sourced material, which sellers should be able to demonstrate in line with standard industry practice, upon buyers' request.

S&P Global Commodity Insights collects data from market participants across the full supply chain, allowing us to produce a balanced assessment of price by engaging with suppliers, traders and consumers of all size and scale.

S&P Global Commodity Insights coverage of the lithium carbonate and hydroxide market is led by a global team across three offices: Singapore, Sao Paulo and London. These regions cover the key supply and consumption hubs for lithium carbonate.

Lithium Hydroxide Cargoes delivered to North Asia countries other than Japan and South Korea are reflected in the assessment, after normalizing to the stated basis. Freight, quality differentials for lithium hydroxide cargoes, as well as the spreads and dynamics between different regions may be considered in the normalization process.

The Lithium Carbonate CIF North Asia assessment is basis Shanghai port, China. Cargoes delivered into any North Asian ports, such as in Japan and South Korea, are reflected in the assessment, after normalizing to the stated basis port. Freight and quality differentials for lithium carbonate cargoes delivered to different north Asian ports, as well as the spreads and dynamics between different regions may be considered in the normalization process.

Seaborne lithium prices kept tracking the bearishness in China’s domestic market March 21 as international buyers have been adopting a wait-and-see position since they don’t have urgent requirements.

Lithium carbonate decreased $200/mt on March 21 to $59,500/mt, down $1,500/mt week on week. Lithium hydroxide has been unchanged since March 14 at $69,500/mt.

The prices reflect the spot value of battery-grade material on a CIF North Asia basis, referring to deliveries to the main ports of China, Japan and South Korea. Lithium carbonate, however, is normalized to deliveries at the Shanghai port.

Market participants said prices should keep decreasing in the near term, and a seller already adjusted his offer level at $57,000-$58,000/mt for lithium hydroxide, either technical or battery grade. Although he placed some offers at this level (CIF basis) to some Asian customers, “consumers are waiting until the market stabilizes since they see Chinese prices keep going down,” he said.

A China-based producer said prices overseas should keep “going down given the bad demand,” citing concerns about the macroeconomic outlook in the US, as well as the recent financial concerns derived from the Credit Suisse crisis.

“There's no sign of prices moving back up in the near term,” concurred a consumer source that said it was already possible to buy battery-grade material at $65,000-68,000/mt in the case of lithium hydroxide, or below $60,000/mt for lithium carbonate.

The Platts $59,500/mt assessment for battery-grade lithium carbonate CIF North Asia was equivalent to Yuan 462,578/mt on a DDP China basis, including 13% value added tax, port and logistic costs, based on S&P Global Commodity Insights' import-parity calculation.

The DDP China lithium carbonate price was assessed at Yuan 295,000/mt March 21, meaning seaborne prices were strongly above Chinese domestic prices. The dollar was assessed at Yuan 6.8763 at 4:30 pm Singapore time.

Platts is part of S&P Global.

22 Mar 2023 — Lithium Hydroxide DDP China heard on Mar 22 tradable below Yuan 300,000/mt, April loading (batter

22 Mar 2023 — Lithium Hydroxide DDP China heard on Mar 22 tradable at Yuan 260,000/mt, April loading (battery g

22 Mar 2023 — Lithium Carbonate DDP China heard on Mar 22 tradable at Yuan 260,000/mt, April loading (battery g

22 Mar 2023 — Lithium Carbonate DDP China heard on Mar 22 tradable at Yuan 240,000/mt and below, April loading

22 Mar 2023 — Lithium Carbonate CIF North Asia heard on Mar 22 tradable at below $60,000/mt (battery grade): Ko

22 Mar 2023 — Lithium Hydroxide CIF North Asia heard on Mar 22 tradable at around $70,000/mt (battery grade): K

22 Mar 2023 — Spodumene Concentrate (6% lithium oxide) FOB Australia heard on Mar 22 indicatively offered at $5

22 Mar 2023 — Lithium Carbonate DDP China heard on Mar 22 indicatively offered at Yuan 300,000/mt (battery grad

22 Mar 2023 — Lithium Carbonate DDP China heard on Mar 22 offered at Yuan 220,000-230,000/mt (industrial grade)

22 Mar 2023 — Lithium Hydroxide DDP China heard on Mar 22 tradable at Yuan 350,000/mt (battery grade): Chinese

22 Mar 2023 — Lithium Carbonate DDP China heard on Mar 22 tradable at Yuan 220,000-230,000/mt (industrial grade

22 Mar 2023 — Lithium Carbonate DDP China heard on Mar 22 tradable at Yuan 280,000/mt (battery grade): Chinese

22 Mar 2023 — Lithium Carbonate DDP China heard on Mar 22 offered at Yuan 250,000/mt (battery grade): Chinese t

22 Mar 2023 — Lithium Carbonate DDP China heard on Mar 22 tradable at Yuan 240,000-250,000/mt (battery grade):

22 Mar 2023 — Lithium Hydroxide DDP China heard on Mar 22 tradable at Yuan 350,000/mt (battery grade): Chinese