The lithium carbonate prices hovered rangebound yesterday and closed the session with mild gains after rapid falls earlier. On the one hand, the supply side saw new supply disruptions stemming from potential stikes in Chile and environmental-related production suspension in Brazil.
On the fundamentals, while Mysteel's recent survey showed continued growth in both lithium carbonate supply and demand in September, the players have started to question the demand sustainability in the traditional seasonal high on the backdrop of slowing inventory drawdown, rumors regarding individual cell factories' production scheduling, and news of stricter approval of new capacity, aside mounting warrants at GFEX. Overall, lithium carbonate prices are expected to keep rangebound in the near term with firm fundamentals providing supply and demand concerns capping the momentum.
