Lithium hydroxide prices rose 64% year-on-year

According to the monitoring data of Sinochem Xinwangxun Business Agency, the average market price of lithium hydroxide at the end of June was 89,700 yuan (ton price, the same below), a year-on-year increase of 64%
.

As a lithium source in the production of lithium battery cathode materials, lithium hydroxide is mainly used for the production of high nickel cathode materials in ternary materials, which is closely related to the development of the new energy automobile industry
.
The production and sales of new energy vehicles have increased significantly this year, and the demand for lithium hydroxide is also rising rapidly

In addition, due to strong overseas demand, China's lithium hydroxide exports are also significantly improving
.
According to customs statistics, in May this year, China’s lithium hydroxide exports amounted to 612.

From the perspective of production, domestic lithium hydroxide production mainly uses spodumene concentrate as raw material
.
Due to the limitation of mineral resources, the operating rate is low, and the supply of raw materials is tight, which restricts the growth of lithium hydroxide output

Business analysts believe that the current spot supply of lithium hydroxide continues to be tight, downstream demand is growing steadily, and the market offers firm
.
With the support of tighter market supply and demand, it is expected that the price of lithium hydroxide will rise steadily in the short term