Lithium ore prices posted certain growth from Yuan 50/mtu to Yuan 150/mtu or stagnated last week per the place of production and ore grade. Generally speaking, lithium ore prices have showed signs of stabilizing as downstream lithium salt prices changed little recently.
On the supply side, the lithium ores available in the market at present were mostly high-priced sources arrived in China by the end of 2022, with few new arrivals in 2023 for the African suppliers were cautious in making shipment in order to mitigate the losses. The supply is expected to pick up since the third quarter when the lithium mines in Africa resume the production or bring new capacities into operation.
On the demand side, the downstream players, including lithium salt manufacturers, were active in making inquiries, but were scared off by the high prices, especially when some lithium mineral-based salt factories were not able to operate at full capacity or were closed still.
Taken together, lithium ore prices are likely to stay firm in the near term after depleting the growth momentum.
Edited by Aggie Hu, huchenying@mysteel.com