China’s battery-grade lithium carbonate prices hit three-month high

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

Prices of battery-grade lithium carbonate have been rising since late July and increase by 1,500 yuan per tonne on Monday to reach 468,000 – 478,000 yuan per tonne, with the average price at 473,000 yuan per tonne, marking the highest level in nearly three months, according to data from the Shanghai Metals Market, a Chinese commodity consultancy.

In addition, the spot prices of spodumene concentrates (6%, CIF China) also climbed to $4,930-5,130 per tonne after plateauing for a long while, with average price breaking through $5,000 per tonne to a high of $5,030 per tonne, according to the SMM.

The mining cycle of lithium concentrates was relatively long, so resources released fell short of the downstream demand for lithium battery in the short term. The Australian lithium miner Pilbara held its 8th lithium concentrate auction on August 2, and the transaction price reached an all-time high of $6,350 per tonne, up 2.6% from the previous auction.