The lithium carbonate futures price staged a oversold rebound yesterday, re-claiming some losses after falling for several days in a row. The lithium carbonate spot prices also rose yesterday. Spot transactions were relatively slow due to tight spots availability, while the basis continued to strengthen. Futures prices trended upward, with strong spot market performance providing some support on the fundamentals.
The pressure remained in place. Overseas lithium ore shipments have returned to normal, with Australian ore shipping at a moderate pace overall in Q3, and arrivals expected to increase in September and October. Going forward, attention should be paid to the pace of mine capacity release and the arrival pace of Zimbabwean lithium ore. The tug-of-war between expected supply ramp-up and traditional seasonal high is likely to persist.
