Lithium Carbonate Prices to Continue Contracting in Near Term

SHANGHAI, Feb 27 (SMM) - Lithium carbonate prices declined palpably last week. The inquiries were active, and a few transactions were made. Cathode active material plants, however, only partly resumed the delivery of long-term orders due to fewer-than-expected orders and made few transactions of lithium salt. Some enterprises in Jiangxi started to close for maintenance since February 24. Their unsettled date for resumption underpinned the lithium carbonate prices. However, mainstream salt manufacturers all lowered their quotations considering the high inventory, and traders also sold off. The lingering bearish sentiment suggests that lithium carbonate prices will continue to contract in the short term.