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The price of batter-grade lithium carbonate in China drops by 5,500 yuan per tonne to 288,000 yuan per tonne on Friday, marking a new low in more than two months and sliding for the 8th consecutive day, according to the data from Shanghai Metals market.
The price declined by 15,500 yuan per tonne in the recent five days and by 22,000 yuan per tonne in the recent 30 days.
The price of battery-grade lithium hydroxide fell by 2,000 yuan per tonne to 269,500 yuan per tonne, also a new low in more than two months and sliding for the 5th straight day, showed the data.
The price declined by 10,500 yuan per tonne in the recent five days and by 23,000 yuan per tonne in the recent 30 days.
China’s lithium carbonate futures on the Guangzhou Futures Exchange tumbled on the trading debut on Friday amid market concerns about oversupply. The most-traded contract for January 2024 delivery, tumbled as much as 13% to hit a low of 214,150 yuan per tonne on the first day of tradings, before closing 12.65 down at 215,100 yuan per tonne. Other lithium carbonate futures contracts on the exchange, for delivery in February, March, April, May, June and July all hit limit-down, slumping by 14% to 211,600 yuan per tonne. Read more …