The lithium ore prices pulled back along with falling lithium carbonate last Thursday (the futures market was closed last Friday for Chinese Dragon Boat Festival), and the spot transactions slowed. Yet, the lithium refineries actively closed the previously placed back-pricing orders, which meant lower cost for lithium carbonate.
For lithium carbonate, the futures price significantly dropped last Thursday with new rumors regarding the Jianxiawo Mine. The mine was reportedly re-secured its land pre-approval and site selection permit, valid through 2029. The news has triggered fresh market concerns over a potential marginal increase in lithium supply, delivering a timely blow to the recent price rebound and accelerating the downward move. And the persistently high warrants brought continuous pressure on lithium prices.
