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A total of five tonnes of the October contract was traded at $19.75 per kg on Tuesday September 7.
The transaction follows the first such trade involving the same volume of the June contract at $14.25 on May 3, the day the contract was launched.
The trade comes as renewed optimism for lithium iron phosphate battery in China, persistently tight availability of battery-grade lithium hydroxide, and supply constraints for spodumene concentrate – the key feedstock for lithium production – continue to inject strength into Asia’s seaborne market.
Fastmarkets’ weekly assessment of the lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, spot price, cif China, Japan & Korea was $17.00-18.50 per kg on Thursday September 2, up by $1.00-1.50 per kg (7.6%) from $16.00-17.00 per kg a week earlier. The price has risen by 16.4% since the beginning of the third quarter.