Recently, lithium carbonate futures changed the pre-holiday trend, closed up for five consecutive trading days. on February 27, lithium carbonate futures main contract LC2407 rose 3.39% to close at 106,650 yuan / ton. Spot, lithium carbonate spot prices also showed a continuous upward trend. Data show that on February 27, the average price of battery-grade lithium carbonate reported 97100 yuan / ton, up 450 yuan / ton compared with the previous working day; the average price of industrial-grade lithium carbonate reported 90400 yuan / ton, up 600 yuan / ton compared with the previous working day.

Supply-side support lithium prices upward

For lithium carbonate futures continued to close up, CITIC CITIC Futures analyst Zhang Weixin believes that the main reason is that the entire market is filled with good news recently, both production cuts, overhaul, environmental protection and other supply-side benefits, but also the demand side, such as scheduling a significant increase in consumer goods, consumer goods, such as the old and new good.

From the news side, the recent positive market news frequently. In addition to the previous Yichun lithium mine environmental rumors, followed by news of production cuts, the Australian mine Mt Cattlin production will be reduced from 205,000 tons in 2023 to 130,000 tons in 2024, a reduction of 9,500 tons of LCE. thereafter, the Central Finance and Economics Commission proposed to encourage the guidance of the new round of large-scale equipment renewal and consumer goods to the old for the new. Shenzhen Municipal Bureau of Commerce also released the "Shenzhen 2024 Work Program for Promoting Automobile Exports" on the 26th, supporting car companies to produce export models in Shenzhen. On the cost side, Greenbush, the world's largest lithium mine, changed its long term contract underwriting pricing model, with concentrate pricing changing from Q-1 to M-1 pricing mechanism.