According to Mysteel's data, the spodumene shipments from Australia in May remained stable compared with April, with no significant increase. Large volumes of lithium ore from Zimbabwe are expected to arrive in late July to early August. Major lithium refineries that rely on outsourced lithium ore have already begun securing supply for third-quarter production, leaving available lithium ore in circulation still at low levels.
Based on Mysteel's assessment, the lithium sprices rose fractionally yesterday, while futures traded on a weaker note. The spot transactions remained soft still. On the demand side, expectations for a sustained growth in June orders remain intact, with some producers continuing to ramp up new LFP capacity. LFP production scheduling is expected to continue increasing in June. Going forward, actual industry output will depend on the pace of new capacity ramp-ups and the supply stability of upstream iron phosphate.
