Lithium Ore Market Review for 10.24-10.30 [SMM Weekly Review]

This week, lithium concentrate prices followed the upward trend of lithium carbonate prices. Supply side, mines showed a strong reluctance to budge on prices; although there were limited sales at high levels, most suppliers remained hesitant to sell due to tight spot availability. Demand side, downstream lithium chemical plants demonstrated robust procurement demand for raw materials to meet production schedules, with active inquiries and purchasing activities. Additionally, downstream customers and traders have been frequently negotiating long-term contracts recently to prepare for next year's production, contributing to overall market activity. In the short term, lithium ore prices are expected to fluctuate at highs.