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SMM February 29th News: Following a sharp rise of 6% in the intraday trading on February 28th, lithium carbonate futures prices continued to show strength after the opening on February 29th, and accelerated in the afternoon, with the increase reaching 9.25% at one point. The main lithium carbonate contract once explored to 119,800 yuan/ton, reaching a new high of over 3 months since November 2023. As of the daytime closing, the main lithium carbonate contract reported a 9.21% increase to 119,200 yuan/ton. Multiple contracts such as 2409, 2412, 2411, 2410, 2501, 2502 rose by over 7%, and contract 2408 rose by 8.47%. Contracts 2405, 2407, 2406, 2403 rose by over 9%. ....
Monetary easing is expected to boost the policy of resuming work and production or accelerate the boost of metal demand [institutional review]_SMM metal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from metal.com Daily Mail and Mail on Sunday newspapers.
[go up! Why is "demon lithium" so ferocious? The explosive growth of the new energy vehicle market in 2021 has led to a triple jump in the price of battery-grade lithium carbonate, one of the main raw materials for power batteries, according to state media reports. From January to March in 2021, battery-grade lithium carbonate increased from 50,000 yuan / ton to 86000 yuan / ton; from August to November, it soared to 180000 yuan / ton; in December, it exceeded 200000 yuan / ton at the beginning of the month and rose to more than 270000 yuan / ton at the end of the month, an increase of more than 30 percent in the month and more than 400 percent in the same period last year. ....
[northeast Securities: the contradiction between supply and demand in the off-season is still optimistic about the high continuity of lithium prices] in the short term, the contradiction between supply and demand is difficult to solve. On the demand side, the new capacity downstream continues to climb, the procurement demand is strong, and the smooth transmission of lithium prices is expected to continue to rise or continue to be high; on the supply side, the maintenance range of large factories is obvious, and some smelters reduce and stop production due to the influence of the Winter Olympic Games, and the shortage of lithium resources continues. Some smelters have stopped production due to lack of ore, and the price of lithium resources is high and difficult to find, and the shortage of supply is difficult to alleviate. ....
Guosheng Securities: demand expectation boosts risk preference for Industrial Metals, Cobalt and Lithium prices continue to hit record highs_SMM metal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from metal.com Daily Mail and Mail on Sunday newspapers.