SMM

In the week ending November 23, the CIF price of spodumene concentrate continued to decline. As the price of lithium carbonate dropped, the prices for spot imports of spodumene have kept probing lower following changes in earlier pricing models. Currently, some overseas mines were shipping spodumene concentrate to Chinese ports and selling it based on the spot prices in China. Inventory at the ports and at some of the leading factories remained high. In the domestic spot market, lithium salt producers were increasingly pushing down prices, and some holders were looking to cut their losses, making certain compromise on prices. With no short-term improvement expected in lithium salt prices, spodumene CIF prices are anticipated to continue the decline in the near term.