LMO Market Remained Sluggish As Most LMO Enterprises Suspended Half or Even Full Production in May

SHANGHAI, Jun 9(SMM) -

China’s output of LMO stood at 3,510 mt in May, a month-on-month increase of 7% and a year-on-year decrease of 59%.

In May, the LMO market remained sluggish. Most LMO enterprises in the industry suspended half or even full production due to the costs exceeding the LMO prices for a long term.

Since the mid-to-late May, the rising lithium salt prices pulled up the prices of LMO, driving the downstream restocking at low prices, and the supply of LMO rebounded slightly.

On the demand side, the downstream demand for LMO was still weak, and there was no obvious sign of recovery in the terminal battery market such as digital and E-bike battery.

Domestic output of LMO is expected to be 4,371 mt in June, a month-on-month increase of 25% and a year-on-year decrease of 49%.