Prevailing price of domestic lithium cobalt oxides were around 176,000-178,000 yuan(8.16-8.22)

       As of August 22, prevailing price of domestic lithium cobalt oxides were around 176,000-178,000 yuan/mt, surging around 6,000-8,000 yuan/mt from previous time.

Recently, lithium cobalt oxides products all saw sharp rise in sale price, with quoting price approaching to 180,000 yuan/mt owing to the huge price hike in cobalt, nickel and other raw materials in the previous time.

Since words about prices going upward got out of some leading enterprises before all these, this round of price rise didn't came as surprise.

In breakdown, lithium cobalt oxides has a large market share, accounting for 50.16%, mainly used in the manufacture of mobile phones, laptop computers and other portable electronic devices.

As it is unlikely to phase out in a long time to come, mobile devices batteries will be dominated by lithium cobalt oxides products.

The recent large hike in lithium cobalt oxides price has gradually been accepted and digested by the downstream sector. With traditional seasonal lull nearing the end, some downstream enterprises seem to be ready to stock up.

Upstream front:

Cobalt：This week's domestic electrolytic cobalt market was steady on the whole, with prevailing price maintaining 226,000-231,000yuan/mt. Traders remained wait-and-see.

Cobaltosic oxide price stood at 168000-170000 yuan/mt as there wasn't much change in raw materials. Still, quoting prices were high. The signing of small orders happens all the time while that of large orders was rare.

With downstream going through seasonal lull of consumption in the country, market trading was quite stable for the time being.

Nickel: This week's quoting price of domestic electrolytic nickel continued to fluctuate mildly. As of August 22, it stood at 129,500-129,700 yuan/mt.

Despite several months into the ban on Indonesia nickel mining taking effect, supply gap wasn't seen in the country. However, it is estimated the gap is likely to show in the first half year of 2015.

The ban on Indonesian nickel mining won't change in 2014, and it is very likely to continue into 2015 as a move to encourage the development of the domestic smelters Indonesia.

As a result, nickle price is firmly supported at $18000 dollar/mt, but it is early for it to reach the $20000 dollar/mt level just yet.

Lithium carbonate: Domestic market maintained steady this week. Presently, prevailing quoting price of industrial lithium carbonate is 37,000-40,000 yuan/mt, and that of battery grade lithium carbonate is 40,500-42,000 yuan/ton.

Domestic lithium carbonate industry underwent constant resource integration and optimization since this year. Tianqi HK Co.,Limited's successful bid on the 20% share of zabuye salt lake will help the long-term development and utilization of salt lake in Tibet.