Lithium hydroxide prices rise strongly

The domestic lithium hydroxide market is extremely strong, and the price is "soaring to the sky"
.
On March 4, the average market price of lithium hydroxide was 430,000 yuan (ton price, the same below), an increase of 97.
2% from 218,000 yuan at the beginning of the year, and a year-on-year increase of 545%
.

The surge in lithium hydroxide prices is mainly due to the surge in demand
.
It is reported that lithium hydroxide is mainly used in the production of power batteries for new energy vehicles
.
Since last year, China's new energy vehicles have developed by leaps and bounds, and the demand for lithium hydroxide has increased significantly
.
In 2021, the retail sales of new energy passenger vehicles in China will reach 2.
989 million, an increase of 169.
1% over the previous year.
It is expected to continue to maintain a high growth state this year
.

In addition, rising prices of raw material lithium carbonate also pushed up the lithium hydroxide market
.
Since the growth rate of supply is slower than that of demand, the contradiction between supply and demand has increased, and lithium carbonate has become a variety with a price increase of 10 times within two years
.
According to data released by Shanghai Steel Federation, domestic lithium carbonate prices continued to rise on March 4, and battery-grade lithium carbonate rose by 5,500 yuan, with an average price of 500,000 yuan
.
Lithium hydroxide cost support is strong
.

At present, the price of lithium hydroxide has risen to "astronomical prices".
In the later stage, we should focus on the acceptance of the ultra-high price by the downstream and whether the policy will intervene in the price of lithium
.