[SMM Analysis] Lithium Ore Market Review for the Final Week of 2024

Published: Jan 6, 2025 09:47

Source: SMM

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Last week, lithium ore prices were basically flat WoW.

Last week, lithium ore prices were basically flat WoW. For spodumene, Australian and Brazilian mines showed no significant change in their stance of standing firm on quotes, with offers remaining at or above CIF $850/mt. African ore, due to the continued sideways movement of futures prices recently, saw miners and traders mostly conducting transactions based on these prices, resulting in relatively small WoW changes. Domestic ore experienced a certain reduction in output in recent months due to low temperatures affecting mining costs and production levels, leading to increased reluctance to sell. Most sales were through long-term contracts, with few spot orders available.

For lepidolite, as some enterprises with higher operating rates maintained demand for lepidolite, and given the lack of significant improvement in current supply, high-grade lepidolite prices remained at elevated levels with little WoW change.

Additionally, for this month, lithium ore production showed a certain reduction WoW. For spodumene, output decreased by approximately 17% due to lower temperatures in Sichuan and Xinjiang, while lepidolite production remained relatively stable.

In the short term, lithium ore prices are expected to continue fluctuating rangebound alongside lithium carbonate prices.

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