This week, lithium ore prices continued to decline WoW. On the supply side, despite some willingness to refuse to budge on prices from overseas ore suppliers, they lowered their offers due to shipping pressure. On the demand side, as lithium chemicals prices are currently at a low level, the psychological price level of buyers continues to drop, and their purchase willingness for lithium ore priced at CIF US$650/mt or above is weak. With the decline in both futures and spot prices of lithium carbonate, demand continues to push prices down in negotiations, and the willingness to close deals remains relatively moderate.
According to this week's lithium ore import customs data, domestic spodumene imports exceeded 600,000 mt in April, showing a significant WoW increase, equivalent to over 50,000 mt of LCE. Coupled with the high inventory levels at ports exceeding 700,000 mt in recent months, traders and mines are under certain shipping pressure, and the bargaining power of downstream players has increased. Given the sustained low prices of lithium carbonate, there is an expectation that lithium ore prices will weaken.
