Lithium ore transactions were limited last week, largely reflecting the settlement of earlier procurement by lithium refineries. Traders' inventories fell modestly, keeping spot availability tight.
Underlying lithium market fundamentals remained firm. Supply has tightened in July, with spodumene-based producers curtailing output for maintenance and slower arrivals from Chile. Demand, meanwhile, has held up better than expected, as July LFP production schedules came in stronger than anticipated despite the seasonal lull. Still, downstream buying remained cautious, with no significant restocking above RMB 150,000/tonne and wait-and-see sentiment prevailing.
