【SMM Analysis】Fluctuations! A Complete Analysis of China's Lithium Market in 2024 (Part 1)

Without noticing it, nearly half of 2024 has passed. Looking back at the lithium carbonate market since the beginning of the year has been tumultuous. Since the beginning of the year, the price of battery-grade lithium carbonate has risen from 96,900 RMB/ton to a high of 113,000 RMB/ton, and then experienced a downward trend in recent days after nearly two months of market fluctuations. This article will analyze in depth the reasons behind the fluctuations in the lithium carbonate market in 2024 from the perspective of supply and demand fundamentals. The analysis will be divided into supply and demand at various stages of the industry. In addition to domestic lithium carbonate production, China is also a net importer of lithium carbonate, and the supplement from the import side should not be underestimated. The demand side will be analyzed based on the conditions of positive electrode materials, battery cells, and end markets.