China's lithium ore prices stabilized and edged higher yesterday. Although the closing of back-pricing orders slowed, the average purchase price paid by lithium converters rose, and the spot market supply remained relatively tight.
For lithium carbonate, the futures price slightly rebounded and closed the day session in the postive. The market remained in tug-of-war, with players weighing between demand resilience and expected supply ramp-up in the medium term. While several projects have scheduled for resumption or advancement, the traditional seasonal high in the third quarter is approaching, offsetting the pressure from future incremental supply. Yet, the downstream players were sentitive to price hikes at present, leaving significant price increase unlikely in the near term.
