Mar. 31 at 10:17 AM
$LITOF Chinese lithium chemicals and spodumene prices rise on supply pressure
Market participants continue to monitor the Zimbabwe export ban on spodumene concentrate in the week to March 27.
Several market sources expect discussions to continue for at least a month before reaching a resolution, as several topics require ironing out, such as the allocation of profit margins, potential tariffs, downstream plans, and the construction of lithium sulfate facilities.
Inquiries had picked up in the week to March 27, with more buyers seeking spot cargoes.
“There are many enquiries for spodumene from buyers these days. Spot cargoes are tight,” a Xiamen-based trader shared. “Fundamentals have not stabilized yet. Even though prices are coming up, it’s not stable. We are waiting for fundamentals to stabilise before procuring,” the same trader added.