Decline in spodumene CIF prices slows down, but additional drop is still anticipated

For the week ending November 2, the decrease in CIF prices for spodumene concentrate slowed compared to the prior week. The Q4 negotiated price for the leading Australian Greenbushes mine was still pegged at $2984/mt, based on the Q-1 pricing model, indicating the market's peak. There was speculation that some lithium salt firms were discussing sport goods pricing with mines on an M+2 model, but possibility for significant price decreases was low. While the M+1 pricing model adopted by some mines has significantly lowered Q4 spot prices, the transactions settled under this model were relatively few. A gradual decline in CIF prices for spodumene is still anticipated in the near term.