[SMM Weekly Review] Weekly Market Trends of Lithium Ore from June 3 to June 5

This week, lithium ore prices continued the downward trend from last week, but the decline narrowed. In terms of overseas mines, there was still a strong reluctance to budge on prices, with SC6 offers remaining above CIF $630/mt, and a wait-and-see sentiment prevailing. Mines were generally cautious in their willingness to sell. Meanwhile, some traders showed a stronger willingness to sell due to factors such as hedging, transfer to delivery warehouse, and inventory pressure. On the demand side, as lithium carbonate prices are currently at a low level, buyers' acceptance of lithium ore prices has also decreased. In addition, spot transactions near SC6 CIF $600/mt have occasionally occurred in the market recently, which, to some extent, has guided the downward trend in market prices. However, as current prices are approaching the cost line of mines and the decline in lithium carbonate prices has somewhat slowed, the price decline narrowed WoW. In the short term, with the expectation of falling lithium carbonate prices, lithium ore prices may continue to decline, but the room for decline is limited.