SHANGHAI, May 15 (SMM) - The prices of lithium ore jumped along with rising lithium carbonate prices last week. Lepidolite supply was extremely tight. Production at top-tier mine 414 was affected by road repair and bad weather. It sold 8,000 mt of lepidolite with a grade of 2.2% at an auction price of 8,666 yuan/mt. Lithium carbonate production cost is 320,000 yuan/mt at this auction price, considerably higher than the current lithium carbonate prices. Other mines received brisk inquiries for long-term contracts amid scarce lithium ore available in the market, but they generally held back cargoes while awaiting higher prices in the future. At present, mines have a bigger say in lepidolite pricing, and traders are trying to stock up for sale in the future. Spodumene prices have also increased significantly recently. Some lithium salt enterprises have reduced production schedules for May due to a lack of ore. Thanks to stable overseas supply, leading lithium salt enterprises have not changed their production plans.
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