While the market fully priced in the expectations of sustained destocking in July and robust end-market demand in the traditional off-season in the last round of price hike, the lithium carbonate prices pulled back with players eying the expected supply ramp-up, including Jiangxiawo's potential restart, future port arrivals from Zimbabwe. In addition, data showed that Chile exported around 22,600 tonnes of LCE (lithium carbonate equivalent) in lithium salts to China, up 9.0% month-on-month.
On the spot market, transactions were active when the futures price dropped below Yuan 160,000/tonne, while Mysteel assessed lithium carbonate spot prices were relatively resilient at present. While expected inventory drawdown through July provided support, the sustainability and magnitude of destocking in forward months remain to be confirmed, leaving prices trading in a high-level range without clear one-sided catalyst.
