Lithium Hydroxide Prices

Lithium Hydroxide Prices June 2024

In Q2 2024, lithium hydroxide prices in the United States peaked at 14720 USD/MT in June. Several factors influenced these changes, including higher ocean freight demand, European restocking trends, and greater import activity within North America. These factors put pressure on the container market, reducing spot market liquidity and driving up shipping costs.

In the second quarter of 2024, Japan's market witnessed stability due to well-balanced supply and demand dynamics, with major producers maintaining stable output levels. While seasonal freight costs were manageable and feedstock prices rose moderately, the market held steady. Demand from battery makers increased slightly, with a focus on long-term contracts over spot buying, leading to stable prices at 13480 USD/MT. 

Throughout Q2 2024, the prices in Belgium showed minimal fluctuation, maintaining a stable market due to balanced supply-demand conditions. Consistent production rates alongside stable costs for raw materials supported this stability, along with modest growth in the electric vehicle industry. Even with seasonal variations and logistical issues, prices remained steady, ending the quarter at 14430 USD/MT.

Lithium Hydroxide Prices March 2024

During the first quarter of 2024, lithium hydroxide prices in the United States reached 15,123 USD/MT in March. The market saw a substantial decline in lithium hydroxide prices, influenced by weak demand from the lithium-ion battery sector, oversupply, and competitive low-priced imports. Market sentiment remained bearish due to reduced profit margins and the dominant impact of China's EV market on global pricing.

In Q1 2024, Japan’s market saw prices drop to 12,230 USD/MT, primarily due to an influx of cheaper imports and weak demand from battery manufacturers. High inventory levels and falling raw material costs further supported the overall negative market sentiment in the region.

Belgium's prices fell to 14,640 USD/MT in Q1 2024, driven by an oversupply and reduced demand in the automotive sector. The market faced additional pressure from low-priced imports and competition from Chinese producers, resulting in sluggish market activity and continued price declines.

Lithium Hydroxide Prices December 2023

In the USA, the lithium hydroxide prices in Q4 2023 saw a dramatic decrease, reflecting a negative sentiment driven by oversupply and subdued demand from key industries. The closing price for lithium hydroxide was noted at 19115 USD/MT, showcasing the significant impact of market conditions on pricing.

Japan's lithium hydroxide market experienced a substantial decrease in prices due to limited demand from the battery sector and an oversupply situation. The market's downward trend was evident with prices continuing to drop throughout the quarter, culminating in a closing price of 18320 USD/MT, highlighting the ongoing price adjustments in response to market dynamics.

In Belgium, the end of 2023 saw the lithium hydroxide prices plummet, mirroring broader European market challenges. The quarter closed with Lithium Hydroxide Battery Grade DDP Antwerp priced at 19015 USD/MT, a figure that underscores the significant pricing adjustments necessitated by the weakening market demand and increased competition from cheaper imports.

Regional Coverage

The report provides a detailed analysis of the lithium hydroxide market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the lithium hydroxide price trend.

Global Lithium Hydroxide Price

The report offers a holistic view of the global lithium hydroxide pricing trends in the form of lithium hydroxide price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into lithium hydroxide historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into lithium hydroxide price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed lithium hydroxide demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Lithium Hydroxide Price

Q2 2024:

The European market in Q2 2024 saw a consistent pricing environment, supported by stable supply and demand. Moderate production levels and steady upstream prices kept the market balanced. Despite high goods charges and shipping congestion, these logistical challenges had minimal impact. Belgium had the most noticeable price changes, but overall, prices remained stable with a slight dip compared to the prior quarter. Seasonal variations in electric vehicle sales as well as production cycles influenced pricing, resulting in a balanced market with minimal deviations from stability.  

Q1 2024:

In Europe, the first quarter of 2024 witnessed a declining trend in prices, driven by low demand from industries and an excess supply. The market faced further challenges due to an influx of cheaper imports, resulting in lower profit margins for manufacturers. The European lithium sector was significantly impacted by China's oversupply, which stemmed from heavy import volumes. In Belgium, notable price reductions highlighted the widespread conditions of low demand, sufficient supply, and a slowdown in electric vehicle adoption. Additionally, competition from Chinese electric vehicle manufacturers further intensified the overall negative market outlook.

Q4 2023:

The market in Europe witnessed numerous obstacles at the end of 2023. Slowdown in orders from the energy storage and lithium-ion battery sectors led to a major slump in demand. This drop was fueled by a cautious buying activity and economic concerns, further exacerbated by the influx of cheaper imports. The drop in lithium carbonate prices contributed to lower production expenses, aggravating the negative market outlook. Belgium faced the most drastic price reductions, among all European countries, highlighting the severe market scenario that prevailed during this period.

This analysis can be extended to include detailed lithium hydroxide price information for a comprehensive list of countries.

North America Lithium Hydroxide Price

Q2 2024:

During Q2 2024, the prices in North America varied due to several factors, such as escalating freight costs augmented by an inventory replenishment phase in Europe, increased ocean shipping demand and an increase in seasonal demand from importers. These elements caused limitations in container capacity, restricting spot market liquidity and elevating transportation expenses. The USA observed significant price variations, with a modest decline from the prior quarter, reflecting a stable yet intricate market environment. The growing demand from the automobile industry, decreased consumer inquiries contributed to positive pricing outlook.

Q1 2024:

The North American market during the first quarter of 2024 encountered significant challenges due to substantial price drops. These declines were primarily caused by a decrease in demand from the lithium-ion battery industry, product oversupply, and the presence of competitively priced imports. Moreover, falling lithium carbonate prices reduced manufacturers' profit margins. The influence of China's expanding electric vehicle market, which contributed to lower global prices, further worsened the market conditions. In the United States, prices saw a notable decrease, reflecting a generally pessimistic market outlook driven by minimal demand and ample supply.

Q4 2023:

In the latter part of 2023, the market in North America encountered notable difficulties, primarily due to an oversupply that led to a decline in prices. This surplus stemmed from well-stocked inventories and the continuous importation of affordable goods. Demand from key sectors such as cathode and battery manufacturing stayed subdued, which led to fewer orders and a general disinterest in purchasing. Moreover, the lithium carbonate sector also weakened, which further influenced the declining price trajectory. The overall market sentiment in North America was decidedly bearish as these factors converged.

Specific lithium hydroxide historical data within the United States and Canada can also be provided.

Middle East and Africa Lithium Hydroxide Price

The report explores the lithium hydroxide pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on lithium hydroxide prices for countries can also be provided.

Asia Pacific Lithium Hydroxide Price

Q2 2024:

In the second quarter of 2024, the market demonstrated steady pricing, driven by supply and demand equilibrium. This trend was largely led by the stable output from leading producers and the relatively controlled shipping expenses, even with some seasonal changes. Moreover, a slow increase in the prices of upstream materials, including lithium carbonate, offered some level of cost support. Moderate growth in demand from industries, such as battery production, further promoted an emphasis on securing long-term agreements rather than engaging in spot transactions, which helped sustain market stability.  

Q1 2024:

During Q1 2024, the market in the Asia Pacific region experienced notable price fluctuations, primarily due to subdued demand from battery manufacturers and an oversupply of products. Cautious consumer behavior resulted in fewer new orders and low market activity in various countries where high inventories contributed to falling prices. Furthermore, a decrease in the prices of lithium carbonate, a key raw material, lowered production costs, further pushing prices down. Japan saw the most significant price changes, influenced by imports of cheaper products, reflecting a general negative trend across the region amid weak demand and reduced market inquiries.

Q4 2023:

In Q4 2023, the Asia Pacific region witnessed a decline in the market. The supply levels were high, while demand from battery makers in the local market was low, contributing to a downward pressure on prices. Reduced manufacturing costs, due to lower prices of upstream raw materials, also influenced the market negatively. Japan, in particular, saw a notable decrease in costs, driven by an imbalance between increased inventories and sluggish demand, making the market notably bearish as the year concluded.

This lithium hydroxide price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Lithium Hydroxide Price

The analysis of lithium hydroxide prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Lithium Hydroxide Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Lithium Hydroxide Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of lithium hydroxide pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of lithium hydroxide at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of lithium hydroxide price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing lithium hydroxide price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Lithium Hydroxide Market Analysis

The global lithium hydroxide market size reached US$ 1.7 Billion in 2023. By 2032​, IMARC Group expects the market to reach US$ 3.2 Billion, at a projected CAGR of 7.50% during 2023-2032​.

• As governments worldwide intensify efforts to reduce carbon emissions and transition towards sustainable energy sources, the adoption of lithium-ion batteries powered by lithium hydroxide is witnessing a significant upswing.
• The proliferation of consumer electronics, such as smartphones, tablets, and laptops, is bolstering the demand for lithium hydroxide to meet the escalating need for efficient energy storage solutions.
• Continual technological advancements and innovations in battery chemistry are driving the development of high-performance lithium-ion batteries, further augmenting the demand for lithium hydroxide.
• The increasing focus on environmental sustainability is prompting manufacturers to explore eco-friendly production processes and materials, thereby promoting the growth of the market.
• Rapid urbanization and industrialization observed across emerging economies, leading to increased infrastructure development and the establishment of smart cities.
• The expanding telecommunications industry, driven by the proliferation of 5G technology and the Internet of Things (IoT), is contributing to the rising demand for lithium hydroxide.
• The healthcare sector is witnessing a growing adoption of medical devices and equipment powered by rechargeable batteries, such as wearable health monitors and portable medical instruments.
• The increasing integration of renewable energy sources like solar and wind power into the grid, there is a growing need for efficient energy storage solutions to mitigate intermittency and ensure grid stability.  
• Continuous innovations in battery chemistry, electrode materials, and manufacturing processes are expected to enhance the energy density, safety, and affordability of lithium-ion batteries, thereby stimulating market growth for lithium hydroxide.
• The emergence of new end-use applications for lithium-ion batteries, such as grid-level energy storage for electric vehicle charging stations and backup power for critical infrastructure, further expands the market opportunities for lithium hydroxide suppliers.
• Strategic partnerships and collaborations between lithium hydroxide manufacturers and downstream industries, such as battery manufacturers, automotive companies, and electronics manufacturers, drive market expansion.

Lithium Hydroxide News

The report covers the latest developments, updates, and trends impacting the global lithium hydroxide industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in lithium hydroxide production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the lithium hydroxide price trend.

Latest developments in the lithium hydroxide industry:

• In February 2024, Albemarle Corporation announced a multi-year agreement to supply BMW Group with battery-grade lithium hydroxide for electric vehicles (EVs), starting in 2025. This deal also includes a partnership to develop safer, more energy-dense lithium-ion batteries. Albemarle's Energy Storage President, Eric Norris, highlighted the collaboration as a step towards advancing clean energy. This marks their second agreement but the first to focus on joint research for lithium battery innovations.
• In March 2024, GanfengLithium and Pilbara Minerals Limited inked a cooperation deal to conduct a joint Feasibility Study for a potential downstream conversion facility, boosting raw material supply for GanfengLithium, enhancing lithium compound production capacity, and diversifying production layout. This partnership aims to leverage technical and resource advantages to foster long-term growth in the lithium industry.

Product Description

Lithium hydroxide (LiOH) is a white hygroscopic crystalline material employed especially as a precursor in the manufacture of lubricating grease and the electrolyte in lithium-ion batteries. It is synthesized through the metathesis process where lithium carbonate (Li2CO3) dissolves in calcium hydroxide (Ca(OH)2). This could also be produced by adding lithium sulfate to barium hydroxide. Lithium hydroxide is available in two main forms: hydrate and anhydrous, the former containing a molecule of water inside.

It is highly reactive and acts as a sorbent for moisture, which makes lithium hydroxide so important for many industrial purposes. It is vital in the aerospace industry to purify air by removing carbon dioxide in breathing systems of this kind. The primary positive feature of lithium hydroxide is its involvement in the production of lithium salts which play the role of raw materials of lithium batteries. These batteries are those that are used to power electric vehicles (EVs) and which are also those that store energy in portable electronic devices and are therefore to the reduction of carbon emission and reliance on fossil fuels.

Also, lithium hydroxide is used in ceramics and some cement formulations to obtain the desired techniques. Its applications in these multiple sectors signal the potential to be widely used and the need for continuous innovation in industries pursuing technological progress and sustainability.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of lithium hydroxide pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting lithium hydroxide price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The lithium hydroxide price charts ensure our clients remain at the forefront of the industry.