Sinomine Resource Group put 25,000 mt/year battery-grade lithium hydroxide and lithium carbonate project in trial production

SHANGHAI, Aug 20 (SMM) - Sinomine Resource Group has recently put its 25,000 mt/year battery-grade lithium hydroxide and lithium carbonate project in trial production.

Prices of battery-grade lithium carbonate and lithium hydroxide have continued to rise recently. As of August 19, the average price of domestic battery-grade lithium carbonate reached 99,500 yuan/mt, gaining 3,000 yuan/mt in just four days. The average spot price of battery-grade lithium hydroxide stood at 114,000 yuan/mt, an increase of 2,500 yuan/mt in four days.

The lithium carbonate market is still tightly balanced as suppliers are reluctant to sell. The price increase of lithium hydroxide is expected to slow down as supply will recover slightly in September.