Chinese Spodumene Buyers Push For Lower Price, Overseas Mines Would Rather Sit On Stockpiles Than Sell At Big Discounts

Spodumene concentrate's price drop slowed in the week ending December 28th. High domestic lithium ore stocks persist. Buyers tried to push for lower price, expecting further price falls. Ore holders prefer to sit on their stockpiles, waiting for better market conditions. Imports of African lithium ore slowed as miners won't sell cheap. With the 2-3 month shipping to China and transit risks, traders lost interest in year-end imports. A short-term moderation in the price drop is expected.

https://news.metal.com/newscontent/102555785/Chinese-Spodumene-Buyers-Push-For-Lower-Price-Overseas-Mines-Would-Rather-Sit-On-Stockpiles-Than-Sell-At-Big-Discounts

Now, when African miners are NOT selling it, you know you are near the bottom - they are refusing to sell it as its above their cost price.