Widening lithium hydroxide-carbonate price spreads are tightening hydroxide supplies and driving up prices. As of November 14, lithium carbonate prices surpassed hydroxide by 15,700 yuan per tonne, reversing a previous discount trend since June 2023. This shift has prompted at least six major lithium producers to convert hydroxide production to carbonate, further constraining hydroxide availability. Consequently, lithium hydroxide prices have risen to 68,000-70,000 yuan per tonne, reflecting a 2,000-3,000 yuan increase from the previous week. The rising production costs and limited supply are making it challenging for buyers to secure hydroxide for conversion into carbonate.