Recently, the lithium refineries have been taking delivery quickly, keeping port inventories on a steady downward trend. Large refineries have begun securing ore supply for the third quarter, further tightening spot availability. However, inquiries for third-quarter cargoes have slowed compared with the second quarter.
For lithium carbonate, the futures price rallied after several consecutive days of declines. On the news front, Zimbabwe has classified lithium, nickel, and other minerals as "critical minerals" and plans to exercise mandatory minimum ownership stakes in existing mining assets through a Special Purpose Vehicle (SPV). Although affected companies have responded that the move currently has no impact on existing mine operations and that no formal policy has yet been introduced, the news was still seen by the market as a significant supply-side disruption, helping to trigger a price rebound in the afternoon session.
