Research Institute: Jun Lithium Price Falls Below New Low for Yr; Battery Prices Still Face Downward Pressure

　　The demand for lithium salts was weak in June as the raw material for downstream battery-end was mainly destocked, with sluggish overall shipment for lithium carbonate, according to the latest study by TrendForce.

　　In addition, the supply-side oversupply situation is difficult to be resolved in the short term. Therefore, the lithium carbonate price fell below the new low within the year, from RMB100,000 per ton last month to around RMB90,000 per ton.

　　Related NewsCiti Lists 8 Potential Catalysts Ahead of 3rd Plenum; Top Picks PDD/ ASMPT/ CHALCO/ TTI/ MGM/ LI NING/ BYD

　　As raw material prices continue to decrease, battery costs dropped again, and power battery prices will continue to decline, according to the study.

　　It is expected that power battery prices will continue to face downward pressure at the beginning of 3Q24, will price stabilization or rebound expected to be depend on the restocking demand during the peak season at the end of 3Q24.

　　AAStocks Financial News