Latest Update in the SMM Lithium Market

SMM, Oct 14: The followings are a detailed breakdown of China metals production in September and forecast for October:

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According to SMM statistics, China's production of ternary cathode materials in H1 2024 was 330,000 mt, up 13.8% YoY from 290,000 mt in H1 2023, with a capacity utilisation rate of around 40%.

The raw material inventory/output ratio of copper tube enterprises was 4.62% in May, down 0.46 percentage point from the previous month. In recent months, the raw material inventory of copper pipe plants has remained low, mainly due to the significant fluctuations in copper prices. Raw material inventories decreased due to increased orders.

The lithium market has been experiencing a tumultuous year, with prices continuing their downward spiral. In 2024, the trajectory of lithium carbonate prices has been a subject of concern for investors and industry players alike. The question on everyone's mind is: where will the bottom line be for lithium prices?

SMM data shows high iron ore shipment volumes in March, driven by mines aiming to hit quarterly targets and two additional working days compared to February. Considering these elements, March likely saw a MoM rise in iron ore import volumes. As April ushers in peak demand season and steel mills ramp up, pig iron output is set to grow, boosting iron ore demand.