This week, lithium carbonate futures surged, driving up the quotations for upstream spodumene concentrates, with some miners already quoting SC6 CIF China prices at higher levels. After the spread between futures and spot prices opened up hedging opportunities, the acceptable ore price range for downstream buyers also rose, pushing overall ore prices significantly higher. A recent auction transaction of SC6 CIF at $1,005/mt became the latest testament to the high prices.
On the lepidolite side, the shutdown of a major mine led to a sharp increase in external purchases by its integrated lithium chemical plant; coupled with the current high lithium chemical prices, non-integrated producers' enthusiasm for self-production also increased, boosting demand for lepidolite concentrates. Against the backdrop of persistently tight available supply, lepidolite concentrate market prices continued to climb.
