Weekly Market Trends for Lithium Ore from June 9 to June 12 [SMM Weekly Review]

This week, lithium ore prices remained stable WoW. In the upstream market, overseas mines continued to refuse to budge on prices, with SC6 quoted at CIF $635/mt or above. There was a strong wait-and-see sentiment, and the willingness to sell was relatively moderate. In the downstream buyer market, firstly, lithium ore inventory was currently moderate, and secondly, due to pessimistic expectations about future lithium chemical prices, the purchase willingness for relatively high-priced lithium ore was weak. Coupled with the recent fluctuations in lithium carbonate prices around 60,300 yuan/mt, the downward momentum for spodumene ore prices was limited. Therefore, prices have temporarily stabilized, and market transaction activity has been relatively moderate. It is expected that lithium ore prices will fluctuate in the same direction as lithium carbonate prices in the short term.