While Mysteel's survey indicated that the lithium ore inventory, including both the port stocks and traders' overall inventory, was at a low level, the market players started to price in the expectations of easing supply tightness in the future amdist the production ramp-up and resuming shipment from Zinbabwe.
For lithium carbonate, the futures price opened high yesterday but closed the day session with mild losses due to the mixture of solid demand and expected supply ramp-up. The tight supply-demand fundamentals in May-June, including inventory drawdown and improving demand, will likely provide a floor for prices. However, expectations of future supply recovery stemming from the restart of Australian mines and operations in Jiangxi are capping upside potential.
