With lithium ore shipment from Zimbabwe expected to arrive in China in the coming weeks, the market players started to eye the lithium carbonate supply-demand balance ahead in July. Mysteel's estimation indicated that the lithium carbonate market will likely see narrowing supply gap in July, while destocking is projected to persist.
On the spot market, the downstream cathode plants and battery cell manufacturers were mostly wait-and-see and purchased on the dip as they have secured certain feedstock supply when lithium prices dropped earlier. In addition, the historically high warrants continued to cap the lithium carbonate price hike. The lithium carbonate prices are expected to remain resilient in the near term.
