SMM Weekly Review And Forecast For Lithium Ore

SHANGHAI, Jul 4 (SMM) – Last week, the price of lepidolite remained stable. Resumption of mining and processing activities caused a significant upturn in supply. Demand showed a decrease due to a drop in lithium carbonate prices. Several lithium salt factories adopted a wait-and-see approach, maintaining profits via contract manufacturing, causing a slight dip in lepidolite prices. The procurement sentiment at other factories remained stable, with an anticipated uptick in demand for raw material restocking in July. Short-term lepidolite prices are expected to remain consistent. The CIF price for spodumene concentrate stayed consistent. The decline in lithium carbonate prices reduced China's lithium salt firms' readiness to accept high-cost lithium ores, resulting in a weaker buying sentiment. Yet, the strong price-supporting outlook from overseas mines persisted, keeping liquidity low. With Q3 price changes in overseas mines, expect fluctuation in spodumene prices. The spodumene raw ore price softened. Due to the lengthy production cycle from overseas raw ore to lithium salt, coupled with a high purchase risk, demand for raw ore was relatively subdued. Furthermore, its high sensitivity to falling lithium carbonate prices prompted suppliers to increase shipping, causing a gradual decrease in raw ore prices. It is anticipated that the price of lithium spodumene raw ore will continue to decline.