The most-traded GFEX lithium carbonate futures price rebounded yesterday supported by reinforced expectations of a delayed restart of Jianxiawo mine. The Jiangxi Provincial Department of Natural Resources has revoked the "Construction Land Pre-approval and Site Selection Opinion Letter" for Yichun Times New Energy Mining, a CATL subsidiary, upon application of the company. According to industry analysts, the standard approval process takes three to six months, so this move significantly lowers the chances of the Jianxiawo mine restarting in 2026.
On the spot market, the downstream players purchased lithium carbonate on rigid demand, and the basis for new cargoes showed signs of strengthening in June. Follow-up attention shall be paid to GFEX warrants as well as downstream stockpiling pace.
