SMM

SHANGHAI, May 4 (SMM) – The prices of lithium ore stabilised along with lithium carbonate prices last week. Lepidolite supply was extremely scarce due to strict environmental protection checks in Jiangxi. Mining activities were severely disrupted, and new mines were not allowed to be put into operation. Even the giant 414 tantalum-niobium project was suspended. This drove buyers to seek other mines for supply under long-term contracts. Due to persistently high prices of imported spodumene concentrates, some lithium salt companies who source raw materials externally were either closed or took outsourcing orders from their rivals. The import volume of spodumene concentrate increased significantly year-on-year in the first quarter of this year, which will allow the short-term production schedules of leading lithium salt enterprises to be immune from the current spodumene concentrate prices.