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The average price of battery-grade lithium carbonate fell by 1,500 yuan per tonne to 304,500 yuan per tonne on Thursday, marking a new low in more than a month and down for the 2nd straight day, according to data from consultancy Shanghai Metals Market.
The price decline by 3,000 yuan per tonne in the recent five days and by 7,000 yuan per tonne in the recent 30 days.Â
The average price of battery-grade lithium hydroxide drops by 1,000 yuan per tonne to 280,000 yuan per tonne, also a new low in more than one month and down for the third consecutive month, showed the data.
The price fell by 9,000 yuan per tonne in the recent five days and by 4,500 yuan in the recent 30 days.
Market participants said that the weakness in the domestic Chinese lithium market became more apparent after China’s Dragon Boat holiday (June 22-24), while spot demand remained lukewarm.
The rebound of lithium prices in May was due to consumer restocking and now the restocking has finished and the real consumer demand is limited, which explains the current weak demand for spot lithium carbonate, said industry insiders.
Several market participants were also concerned about the lithium supply in the second half of the year, which further discouraged consumers to build up their stocks since it should bring more downward pressure to the market.