Lepidolite prices fell after the Labour Day holiday. The market is in severe oversupply.
Bearishness towards lithium carbonate prices along with still low operations at non-integration smelters in Jiangxi led to a tepid recovery of lepidolite purchasing.
Renewed environmental protection checks in early May will bring uncertainty to lepidolite-based smelting activities in Jiangxi. Consequently, some mines and traders lowered offers.
Spodumene prices inched lower after the Labour Day holiday. Falling lithium carbonate prices and sour sentiment dampened purchasing of expensive spodumene, with most smelters buying on the dip or taking a wait-and-see approach.
However, as a large amount of imported spodumene has been converted into lithium carbonate under outsourcing contracts and is then held for delivery of futures contracts in the future, the amount of spodumene available in the spot market was limited, helping constrain the price drop.
Backed by a significant share of long-term contracts, leading smelters have sufficient stocks. spodumene prices may be largely stable or drop a little in the short term.
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