Argus-assessed prices for 6pc grade lithium concentrate (spodumene) fell to $830-880/t cif China on 18 March from $850-900/t cif China a week earlier. Lithium salts refineries and other consumers pressed down spodumene purchase prices because salts prices have been on a downtrend since early February.

Prices for 99.5pc grade lithium carbonate held stable at 74,200-75,500 yuan/t ex-works on 18 March from 17 March and 13 March, down from Yn74,300-75,600/t ex-works on 12 March. China's cancellation of compulsory installation of energy storage devices in new energy projects and higher US tariffs on Chinese imports have weighed on lithium demand growth. But most producers held firm on current prices since late last week to cope with increasingly thinner profit margins. A 100t deal was concluded at Yn75,000/t ex-works on 18 March.

The most-traded May lithium carbonate contracts on the Guangzhou Futures Exchange rebounded to Yn75,400/t on 18 March from Yn75,340/t on 13 March, still lower than Yn75,960/t on 11 March and Yn76,800/t on 6 March, with traded quantities totalling 134,587t on 18 March.

Import prices for 99.5pc grade lithium carbonate held unchanged from 13 March to $9.08-9.20/kg cif China on 18 March, in line with the steady domestic prices.

Prices for 60pc grade lithium cobalt oxide (LCO) climbed higher to Yn200-220/kg ex-works on 18 March from Yn190-210/kg ex-works on 13 March, because the sharp rise in cobalt tetroxide feedstock prices far outweighed the decline in lithium carbonate feedstock prices.

Argus-assessed prices for 56.5pc grade hydroxide held unchanged at Yn68,500-77,600/t ex-works on 18 March from 17 March and 13 March. Most producers held firm on current prices because they expect there will be limited room for prices to dip given that they are already at a four-year low, leaving limited profit margins for producers, despite subdued demand from the ternary cathode active material (CAM) sector during the industry's low season.

China installed 73.6GWh of power batteries during January-February, rising by 47pc from a year earlier, industry data show. Of this, ternary batteries accounted for only 20.4pc, and installed volumes of such batteries fell by 23pc on the year to 15GWh during the same period.

Export prices held at $10.10-10.60/kg fob China on 18 March, stable from 13 March. But prices are under downward pressure in the near term as most consumers are keen to press down hydroxide purchase prices.