[SMM Analysis] 2025 Second Weekly Lithium Ore Market Trends

This week, lithium ore prices have risen alongside lithium carbonate prices.

On the spodumene side, overseas mines have continued to stand firm on quotes, with an upward trend following lithium carbonate prices. Given the ongoing purchasing demand from non-integrated lithium chemical plants and hedging operations at high futures prices, higher lithium ore transaction prices have occasionally emerged, further supporting the current price increase. For spodumene spot cargoes, due to the ramp-up plans of non-integrated lithium chemical plants and the rise in lithium chemical spot and futures prices, recent spot order inquiries have been relatively active. Quotations vary significantly depending on the ore source and volume, while transaction activity has improved, and transaction prices have risen.

On the lepidolite side, the market has recently experienced a continued undersupply of high-grade lepidolite concentrates, with overall prices rising. On the supply side, there have been no large-scale auctions recently, and market circulation has not improved. Other small and medium-sized suppliers have continued to stand firm on quotes, but the overall supply volume and stability remain uneven. On the demand side, non-integrated lithium chemical plants, aiming to maintain production schedules, have shown strong purchase willingness. Following the recent rise in lithium chemical prices, their psychological acceptance price has increased to some extent, and the transaction price center has shifted upward.

In the short term, lithium ore prices are expected to continue fluctuating within the lithium carbonate price range, but overall, they are more likely to rise than fall.