SHANGHAI, Jul 22 (SMM) - The SMM spot prices of domestic battery-grade lithium carbonate rose 1,000 yuan/mt to 464,000-476,000 yuan/mt on Tuesday July 19, averaging 470,000 yuan/mt.
The spot prices of industrial-grade lithium carbonate have also risen simultaneously, climbing to 449,000-455,000 yuan/mt, with an average price of 452,000 yuan/mt.
Market trading activities increased when compared with last week, mostly driven by LFP plants. The auction prices of spodumene concentrate by Australian lithium miner Pilbara also contributed to higher lithium carbonate prices. On July 13, Australian lithium miner Pilbara conducted the seventh auction of spodumene concentrate in the company's history and the fourth auction this year, and the price was finalised at $6,188/mt. The transaction price fell by $162/mt, or 2.55% from the auction price on June 23, 2022, but was still higher than the auction price in May and before.
Major lithium salt plants have been overhauled to varying degrees this month, and the overall supply is tight. LFP market benefited from recovery of NEV industry, which will further boost lithium carbonate demand.