upward momentum of lithium raw material prices30 Apr 2021 19:40
'The price for lithium spodumene, which Chinese lithium hydroxide producers use in their operations, continued to post gains in light of limited supply in Australia.
Fastmarkets' latest assessment for spodumene 6% Li2O min, cif China was at $640-720 per tonne on April 28, up by 3.03% from $620-700 per tonne on March 31. The raw material price has ticked up nearly 80% from November when the price started its recent rally.
Some market participants told Fastmarkets they expect the tightened restrictions in Chile, a key lithium supplier in South America, to translate into shipment delays from May onward.
“The cargoes were mostly delivered to China on schedule in April; however, we are not sure at this point whether the shipments will be on time in May,” a trader said.
The battery-grade lithium hydroxide price in the seaborne Asia market also nudged higher in the past week due to higher offers and expectations for further gains amid tightening supply and strength in the domestic China market.'