In the first half of 2023, the domestic market of Lithium hydroxide first declined and then rose, and the overall trend was sluggish. According to the commodity market analysis system of the business community, the average price of domestic industrial Lithium hydroxide enterprises was 553333.31 yuan/ton on January 1, 2023, and the average price of domestic industrial Lithium hydroxide enterprises was 332500.00 yuan/ton as of June 30. The market fell 39.91% in half a year, 29.75% lower than the same period last year.

According to the monthly rise and fall chart of Lithium hydroxide from January to June 2023, the monthly price of Lithium hydroxide in the first half of 2023 has a small rise, a large decline and an overall decline. The market situation rose in May and June, while other months fell. The largest decline was in April (29.93%) and the largest increase was in May (18.45%).

Price decline stage (January April): the decline of upstream Lithium carbonate prices dragged down the weak downstream demand, with a 53.46% decline from January to April

In January, the upstream Lithium carbonate operated weakly, which weakened the support for the Lithium hydroxide market, and the domestic downstream purchase intention was not high. The deal was mainly just needed, and the price of Lithium hydroxide fell slightly. In February, the upstream Lithium carbonate price fell, dragging down the market mentality. In addition, the domestic demand was weak, and the actual market transactions were limited. Most of them were low price orders. The focus of Lithium hydroxide negotiations was weak. In March, the downtrend of upstream Lithium carbonate continued, and the support for Lithium hydroxide weakened again. The manufacturers mainly delivered long-term orders, and the market buying atmosphere was depressed. Under the mentality of downstream enterprises buying up rather than buying down, the actual orders in the market were not good, and the market was weak. The downturn in the upstream Lithium carbonate market continued in the first half of April, with insufficient support for Lithium hydroxide, abundant market supply, weak demand, poor mentality of the industry, pressure on high market prices, and continued weak market.

Price rise stage (May June): the rise of Lithium carbonate price supports the rise of downstream procurement demand, and the rise of 29.13% in May June

In May, the upstream Lithium carbonate market rose mainly, and the Lithium hydroxide market was strongly supported. The manufacturers mainly executed long orders. The enthusiasm of downstream inquiry was slightly improved, the price mentality of the industry was strengthened, the enterprise quotation rose, and the Spot market was just in need of transactions. In the first ten days of June, the cost support continued, driving the price of Lithium hydroxide to keep up. The manufacturer mainly made long-term orders, and the downstream needs to follow up. The market has a strong wait-and-see atmosphere.

In July, the domestic industrial Lithium hydroxide market was weak, the support from the upstream Lithium carbonate was insufficient, the downstream purchased on demand, and the trading atmosphere in the Spot market was light. Lithium hydroxide analysts from the business agency believed that the domestic Lithium hydroxide market was expected to be weak and stable in the short term, and more attention should be paid to the market news guidance.