High Lithium Ore Prices in Australia will Drive Lithium Prices Rebound, Reasons Prevent Output to Grow

Today, SMM battery-grade lithium carbonate spot prices continued to edge up slightly from the previous trading day. The lithium carbonate 2701 contract opened higher today at 132,500 yuan/mt. After the open, bears briefly held the advantage, and prices consolidated lower, hitting a low of 130,200 yuan/mt. Subsequently, bargain hunting emerged at lows, and prices gradually rebounded. Around midday, bulls concentrated their efforts, and prices shot up rapidly to the day's high of 135,300 yuan/mt. In the afternoon, prices consolidated at highs, fluctuating repeatedly around 134,000 yuan/mt. Near the close, prices pulled back slightly, ultimately closing up 2.53% at 134,400 yuan/mt. Open interest was basically flat (up slightly by 84 lots). In the spot market, downstream buyers continued to purchase as needed at lows, but as prices drifted higher, buying enthusiasm turned more cautious. Upstream lithium chemical plants maintained their stance of holding prices firm and holding back from selling for spot orders. Overall, both market inquiries and actual transaction pace slowed down. On the news and sentiment front, the continued destocking of warrants, combined with confidence in short-term demand resilience, shifted sentiment from earlier pessimism to a slightly more positive tone, driving prices to drift higher.

【Argentina's Mining Exports Hit Record USD 4.74 Billion in H1 2026, Lithium Accounts for Nearly One Quarter】Argentina's mining exports reached a record USD 4.742 billion in the first half of 2026, up nearly 75% year on year and accounting for approximately 10% of the country's total exports. Gold accounted for 61% of mining exports, while lithium represented nearly one quarter, making it the second-largest mineral export. Argentina's lithium export volumes increased by approximately 68% year on year in H1 2026. The country currently has seven lithium projects in operation and five under construction, with two additional projects at the feasibility stage.

【Huayou Cobalt Issues RMB 1 Billion Green Sci-Tech Innovation Bond for Battery Recycling and Lithium Salt Procurement】Huayou Cobalt announced that it has completed the issuance of its 11th green sci-tech innovation bond for 2026, “26 Huayou Cobalt GN011,” with an issuance size of RMB 1 billion, a two-year maturity and a coupon rate of 2.20%. The proceeds will be used to replace expenditures incurred by subsidiaries within the previous three months for the recycling of waste power batteries and their dismantled materials, as well as raw material purchases for battery-grade lithium salt manufacturing.