Lithium carbonate futures in China rise 4.12% — The Rio Times
China’s GFEX 2701 lithium carbonate futures contract rose 4.12% at the close of trading on Friday, August 21, to 158,700 yuan per tonne. Open interest in the contract increased by 31,875 lots, The Rio Times reports.
Lithium producers’ shares
Against the backdrop of rising Chinese futures, shares of U.S.-traded lithium producers increased. Albemarle shares rose 6.75% and closed at $143.25. Shares of Chilean SQM, traded in New York, gained 4.47% to $81.96.
According to the publication, SQM shares had risen another 4.07% the previous day, to $78.45. The Global X Lithium & Battery Tech ETF, which includes shares of mining and battery companies, gained 2.72% and ended the session at $76.61. Since the beginning of the year, its value has increased by 18.61%.
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Prices for lithium raw materials
The average price of battery-grade lithium carbonate in China was $19,988.5 per tonne, $179.1 higher than the previous day. The price of lithium hydroxide increased by $310.35 to $18,509.16 per tonne.
Another Chinese lithium benchmark stood at 152,250 yuan per tonne. This was 0.83% higher for the day, 6.47% higher for the month, and 84.56% higher than a year earlier. SQM is among the producers linked to the Lithium Triangle, a region spanning Chile, Argentina, and Bolivia, where a significant share of the world’s lithium brine resources is concentrated.
