SMM weekly review and forecast for lithium ore

The price of lepidolite held steady last week. On the supply side, the resumed production of mica mines in Jiangxi has increased the supply of goods in the market. However, the price of lithium carbonate began to drop later last week, which strengthened the sentiment of lithium salt smelters toward price cuts. The transaction price of lepidolite is expected to loosen in the future. The CIF price of spodumene concentrate fell slightly last week. On the supply side, the supply volume of spodumene increased in July, easing the tight supply of lithium ore. On the demand side, the insufficient motivation for the price growth of lithium carbonate and the sluggish demand for lithium hydroxide led to the cautious sentiment of salt smelters toward purchases. Following the repricing of overseas mines in Q3, long-term orders have continued to prevail in imports. The transaction volume in the spot market was low. Prices are expected to weaken but stabilize.