GLOBAL LITHIUM WRAP: Bullish momentum extends into lithium carbonate market

Bullish momentum has extended in China's battery-grade lithium carbonate market at the start of November with most producers pushing offer prices higher on reduced availability of material, sources told Fastmarkets on Thursday November 5.

Bullish sentiment continued to spread in China's battery-grade lithium carbonate market with higher offers reported.China's lithium hydroxide prices declined due to slower demand compared with lithium carbonate and lower offers from some sellers.Asian battery-grade lithium spot prices are rangebound under a flat market.Industrial-grade lithium carbonate prices increased with cheap material disappearing from market.
Chinese producers of battery-grade lithium carbonate turned more bullish amid increasingly higher offers this week after the recent uptick in domestic prices due to reducing stocks and increasing downstream demand, sources said.
Most downstream buyers did not purchase more spot materials this week, however, so concluded prices did not make any actual further increases temporarily.

Fastmarkets' weekly price assessment for lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price range exw domestic China was 40,000-41,000 yuan ($6,053-6,204) per tonne on Thursday November 5, unchanged from the previous week.
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