GLOBAL LITHIUM WRAP: Prices in China resume ascent after holiday

Lithium prices in China resumed their ascent in the week to Thursday October 14 on active trading after the end of a week-long holiday over October 1-7 to mark the country’s National Day, with the seaborne Asian market following suit.

• Domestic lithium prices in China rose on post-holiday pick-up in spot market activity.
• Seaborne lithium market also strengthens on buoyed sentiment amid aggressive offers.
• European, US markets steady with participants focusing on long-term contracts.

Prices for battery-grade lithium in China generated upward momentum after stabilizing for the preceding two weeks amid the National Day break and the period preceding it.

Shrugging off concerns of traders taking profit, prices for domestic battery-grade lithium carbonate in the country still managed to go a nudge higher, but the momentum was not as strong as that in September amid higher supply from traders.

Fastmarkets’ assessment of the lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range, ex-works domestic China was at 190,00-200,000 yuan ($29,488-31,040) per tonne on Thursday, up by 15,000-10,000 yuan (6.85%) per tonne from 175,000-190,000 yuan per tonne a week earlier.