SMM

This week, lithium hydroxide prices continued a slight upward trend. On the supply side, in order to adjust inventory, there was a strong willingness to sell at the current price level. On the demand side, some material manufacturers and suppliers made slow progress in negotiating long-term contracts for the new year, resulting in limited long-term contract locking. Coupled with logistics issues as Chinese New Year approaches, there was a strong willingness to stockpile recently, with active inquiries and purchases. Transaction prices were mostly quoted without discounts or with only minor discounts, providing strong support for upstream salt plants to stand firm on quotes, further raising the center of lithium hydroxide transaction prices. As the Spring Festival travel rush begins in the second half of this month, combined with the hazardous chemical properties of lithium hydroxide, it is expected that ternary cathode material manufacturers will complete stockpiling soon, at which point the upward support for lithium hydroxide prices will weaken.