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The average price of battery-grade lithium carbonate in China fell by 5,000 yuan per tonne to 269,000 yuan per tonne on Wednesday, marking a new low in more than two months and sliding for the 16th consecutive month, according to the Shanghai Metals Market.
The price declined by 13,000 yuan per tonne in the recent five days and by 45,000 yuan per tonne in the recent 30 days.
The price of battery-grade lithium hydroxide fell by 4,000 yuan per tonne to 252,000 yuan per tonne, also a new low in more than two months and falling for the 13th straight day, showed the data.
The price declined by 13,000 yuan per tonne in the recent five days and by 50,500 yuan per tonne in the recent 30 days.
China’s domestic lithium market has weakened since late June 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.