Lithium ore market update for 8.11-8.14 [SMM Weekly Review]

This week, lithium carbonate futures surged strongly, driving up the quoted prices of upstream spodumene concentrates. Some miners have already quoted the price of SC6 CIF China at $1,200/mt. After the spread between futures and spot prices opened up the hedging window, the acceptable ore price range for downstream players also rose simultaneously, pushing up the overall ore prices significantly. The recent auction of SC6 CIF at $1,005/mt became the latest testament to the high prices.

Regarding lepidolite, the shutdown of major mines has led to a sharp increase in the external purchase demand of their integrated lithium chemical plants. Additionally, with the current high prices of lithium chemicals, the enthusiasm for self-production among non-integrated producers has also risen simultaneously, increasing the demand for lepidolite concentrates. Against the backdrop of continuously tight available supply, the market price of lepidolite concentrates has been climbing steadily.