Lithium hydroxide prices are expected to continue a gradual decline

SMM, Oct 12: This week, the lithium hydroxide market trend showed little change compared to before the holiday. Market transactions were relatively quiet, with few spot orders outside of long-term agreements between sellers and buyers. Although the market was somewhat influenced by macro factors and lithium carbonate prices, there was no significant boost. In terms of production, most suppliers produced according to order plans, and while the shipping pace was adjusted for the holidays, it remained relatively stable overall. Regarding market prices, due to inventory and shipping pressure, suppliers showed some willingness to hold spot order prices firm outside of long-term contracts, but in the overall oversupply situation, they had to lower quotes to facilitate transactions. On the demand side, there was little change after the holiday, with few inquiries or purchasing actions, and most remained in a wait-and-see stance at this stage. Looking ahead, both sellers and buyers have a rather pessimistic outlook for the market. Considering the continued weakness in downstream demand and the expected reduction in upstream production, lithium hydroxide prices are expected to continue a gradual decline from current levels.