SMM Daily Review: February 4 Spot Lithium Carbonate Prices Continued to Decline

The SMM battery-grade lithium carbonate index stood at 149,831 yuan/mt. Battery-grade lithium carbonate was priced at 142,000-164,000 yuan/mt, with an average of 153,000 yuan/mt. Industrial-grade lithium carbonate was priced at 139,000-160,000 yuan/mt, with an average of 149,500 yuan/mt.

The most-traded lithium carbonate futures contract fluctuated range-bound today, trading mainly between 145,600 yuan/mt and 152,600 yuan/mt. In terms of trading activity, upstream lithium chemical plants showed a clear sentiment to hold prices firm, and their willingness to sell spot orders remained weak. Downstream material plants maintained a cautious wait-and-see attitude, sticking mainly to a strategy of buying the dip. Overall market inquiries and transactions were slightly sluggish.