Picked out a few industry participant quotes from the @Fastmarkets Editorial team's commentary this week to paint the picture of the #lithium spot market at the moment. Real mix of ↗️/➡️/↘️ sentiment, but domestic scene notably more downbeat than seaborne...
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↘️ Chinese trader: “The markets are very transparent. Buyers know that domestic prices in China are lower and the Chinese yuan is getting weaker, and they expect seaborne lithium prices to drift lower.”
↘️ Chinese producer: “We are willing to lower our offers for battery-grade lithium hydroxide slightly. Amid the weaker Chinese yuan, our margins will not be influenced much if we lower our offers”
➡️Chinese producer 2: “Spot supply of hydroxide remains tight and demand strong. So prices are only slightly lower in response to recent depreciation of the yuan”
➡️ European trader: “Weakness from the Chinese market has not yet filtered heavily into the seaborne Asian market yet”
➡️ East Asia consumer: "We have been short on several hundred tonnes of lithium hydroxide every month recently, and the spot market is tight.”
↗️ Chinese producer 3: “Sellers are keeping their offers for lithium carbonate firm in expectation of higher prices when demand bounces back after the lockdowns in China are lifted”
↘️ European seller: “No one is buying. They are hoping prices would drop further”
↘️ Chinese domestic traders: “I've heard no offers for hydroxide this week. The market is extremely quiet. Sellers know there is no buying interest even if they issue offers”
“There is no demand for hydroxide from the nickel cobalt manganese (NCM) batteries sector at all.”
“There is no demand for hydroxide from the nickel cobalt manganese (NCM) batteries sector at all.”
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