Seasonal trend of Lithium Market in Galaxy:

SMM: Galaxy Resources Co., Ltd. (Galaxy Resources Ltd) said in a statement on Monday that lithium-ion battery prices and demand for lithium-ion battery products, including electric vehicles, are beginning to show seasonal trends.

The market for lithium chemicals remains very tight, which will continue to support a strong price outlook, with lithium carbonate up 13.4 per cent from a year ago.

The global average price of lithium carbonate was $17513 a tonne in March, the global price of lithium hydroxide was flat at $19388 a tonne, and spodumene remained unchanged at $880a tonne, Benchmark Mineral Intelligence said in a report this month.

Galaxy said the lower cost of energy storage technology is improving the prospects for battery storage, which is expected to bring significant room for increase in lithium demand.

In the previous three months, Galaxy Resources' sales fell to 44258 tons from 58094 tons in the first quarter of 2018.