Lithium prices were steady around the world in the week ended Thursday June 10, with both Asian, European and United States markets underpinned by tight availability.

Australian spodumene producer Galaxy Resources has increased its full year production guidance for 2021 to 195,000-210,000 dry metric tonnes (dmt) of spodumene concentrate in response to strong demand, it said on Wednesday June 2.

Battery-grade lithium hydroxide prices in Asia moved up over the week ended Thursday June 3 against the backdrop of continued tight supply and firm buying appetite.

As demand for battery raw materials grows, economic conditions and supply constraints are driving prices higher while labor shortages could affect the development of new lithium projects, Fastmarkets heard.

Experts from the battery value chain shared their understanding and insights into lithium price evolution and the new lithium futures contract during a Fastmarkets’ webinar on Tuesday May 25.

Battery-grade lithium carbonate and hydroxide prices in China diverged over the week ended Thursday May 20, with the latter underpinned by persistent tight availability and robust demand in Asia.

Major Chinese lithium producer Ganfeng Lithium has signed a memorandum of understanding with Argentina’s Mining Ministry and Jujuy provincial state for the development of a lithium-ion battery factory in the north of the country, Argentina’s government announced on Friday May 14.

Lithium prices in the seaborne Asian market continued their strong upward trajectory over the week to Thursday May 13 while the equivalent domestic market in China calmed from the strong momentum in the first quarter of 2021, sources said.

A summary of United States-based lithium producer Albemarle’s results for the first quarter of 2021, as stated in its quarterly report published on Wednesday May 5.

Pilbara Minerals has signed a memorandum of understanding with Sydney-based technology company Calix Limited to jointly undertake a scoping study to evaluate a new refining process, the Australian lithium miner said on Tuesday May 11.