SHANGHAI, Sep 8 (SMM) - Most of the companies that extract lithium from salt lakes in South America sell lithium products mainly through long-term contract. And selling prices were low for orders executed in the first half of 2021, most of which were signed at the end of 2020, according to CITIC Securities.
In the second quarter, prices of lithium carbonate sold by SQM and Orocobre were $6,376/mt and $8,476/mt, respectively, well below spot prices of lithium in the same period. Companies expect that after the completion of long-term orders, sales prices will continue to rise in the second half of 2021. And prices in 2022 would be much higher than in 2021. Rising prices of lithium products in South America will support global lithium prices.
Faster development of salt lake resources in South America, the participation of Chinese companies and the promotion of new salt lake lithium extraction processes are expected to bring changes to the industry.
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