According to Mysteel's survey, the marketable lithium ore spots remained low at present. Major lithium refineries have been moving quickly on procurement, but some refineries, having purchased feedstock at higher costs earlier, have turned more cautious. Processing fees for spots were relatively low, leading to lower operating rates at some marginal capacity in the Bohai Rim region.
For lithium carbonate, the futures price softened yesterday with the tug-of-war between firm fundamentals and future supply ramp-ups remaining in place. The lithium carbonate spot transactions were relatively muted in the first half of 2026, and the stockpiling of the traditional seasonal high in the second half is worth attention. In addition, the GFEX warrants seemed to have stopped destocking, adding pressure to the lithium market. It is expected that the lithium carbonate prices will keep rangebound in the short period.
