On the news front, On June 10, Tianqi Lithium announced that it received a report from Talison Lithium Pty Ltd ("Talison"), its controlling subsidiary, regarding a localised fire at Talison's third-stage chemical-grade lithium concentrate plant in Australia during maintenance. While some individual equipment was damaged, the main equipment and production lines were unaffected.
With the market fully digesting the bearish factor from the influx of untracked lithium carbonate stocks earlier, the sentiment improved with recent news re-affirming the supply-side tightness, including slow shipment from Zimbabwe, reduced lithium imports, and delayed restart of Jianxiawo Mine. And the demand end remained robust, with cathode materials' production scheduling showing sustained growth. Yet, the stockpiling pace among cathode and battery cell plants amidst the lithium price hike is worth attention.
