Lithium Salt Prices Extended Gains amid Tight Supply

SHANGHAI, Oct 31 (SMM) -

Lithium carbonate

The lithium carbonate prices rose sharply last week. The supply in the spot market was tight as suppliers focused on the delivery of long-term orders. Although the spot transaction prices were on the rise, some material manufacturers still signed long-term orders at prices lower than the spot prices. The optimistic market sentiment lifted the lithium carbonate prices, beating the expectations of downstream buyers. The market will remain positive for the coming weeks, but as the operating production capacity has reached its peak, material factories have become cautious about accepting high quotations. 

Lithium hydroxide

The prices of lithium hydroxide were on the rise last week. Upstream enterprises maintained high operating rates to deliver long-term contracts, so the spot was in short supply. The boom in the new energy vehicle sector sustained, and the downstream demand for high-nickel ternary cathode materials still remained high. Lithium hydroxide prices rose further with the support of high lithium carbonate prices.