The lithium carbonate futures price rallied yesterday following official confirmation that CATL Jianxiawo mine has not yet resumed the operation, with the EIA awaiting final approval. The fundamentals were persistently firm, evidenced by accelerated inventory drawdown based on Mysteel's tracking of lithium carbonate stocks across the industry chain.
For lithium ore, the prices primarily chased the lithium carbonate price moves. Yet, the traders' spot inventory and the overall port inventory showed accumulation last week, which requires close attention. The lithium converters have largely completed their restocking for the third quarter. Having purchased large volumes of high-cost feedstock earlier, they have turned more cautious and were currently on the sidelines.
