Seasonal trends in the lithium battery market

Galaxy Resources Ltd. said in a statement on Monday that lithium battery prices and demand for lithium-ion battery products, including electric vehicles, are beginning to show seasonal trends. According to SMM data, as of April 23, the price of lithium carbonate has fallen by 12.5% ??in 2018 and 0.7% under lithium hydroxide.

The market for lithium chemicals is still very tight, which will continue to support strong price prospects, compared to a year ago, the price of lithium carbonate rose 13.4%.

BenchmarkMineralIntelligence said in a report this month that the average global price of lithium carbonate was $17,513/ton in March; the global price of lithium hydroxide was unchanged at $19,388/ton; spodumene remained unchanged at average price still at $880/ton.

Galaxy said that the cost reduction of energy storage technology is improving the use of battery storage, which is expected to bring significant upside for lithium demand.

In the previous three months, sales of Galaxy Resources Limited decreased from 58,094 tons in the first quarter of 2018 to 44,258 tons.

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