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SMM battery-grade spot lithium carbonate prices drifted lower today compared to the previous working day. The lithium carbonate 2701 contract opened lower at 154,400 yuan/mt, then moved lower amid fluctuations. During the morning session, it fluctuated between 151,000 and 153,000 yuan/mt, rebounding at times but failing to break above the average price line. Near midday, bears continued to pressure the market, causing prices to drift lower. In the afternoon, it accelerated down to 149,100 yuan/mt, hitting a new intraday low, before rebounding slightly. In the late session, it moved sideways in a narrow range of 150,500–150,700 yuan/mt, eventually closing down 3.01% at 150,700 yuan/mt, with open interest increasing by 4,347 lots. In the spot market, the drifting lower lithium carbonate prices significantly bolstered downstream willingness to restock at lower prices. Some downstream enterprises with plans for just-in-time procurement this week, who had remained on the sidelines in previous sessions due to relatively high-level prices, concentrated their buying volume release today during the price correction window. Upstream, the pace of spot order shipments from lithium chemical plants remained stable, and plants undergoing maintenance continued to prioritize fulfilling long-term contract orders to secure supply. Overall, the market inquiry atmosphere was heated, and actual trading activity was relatively high.