SMM Daily Review: 5 August – Spot lithium carbonate prices rose amid volatility

Published: Aug 9, 2026 12:37

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[SMM Daily Review: 5 August – Spot lithium carbonate prices rose amid volatility]

Today, SMM’s spot price for battery-grade lithium carbonate rose amid volatility compared with the previous trading day. The lithium carbonate 2609 contract opened lower today at 139,700 yuan per metric tonne; after briefly dipping to 138,300 yuan per metric tonne following the opening, it found support, with long positions driving a volatile rebound; during the morning session, the price fluctuated firmly within the 140,000–142,000 yuan range; although there were some fluctuations, the price centre gradually shifted upwards; around midday, bulls and bears engaged in a tug-of-war within the 141,500–142,500 yuan range; In the afternoon, bulls continued to exert pressure, driving the price to rise in a choppy manner. As the session drew to a close, a concentrated influx of capital caused the price to surge rapidly to 144,300 yuan per tonne, setting an intraday high. This was followed by a slight pullback due to some profit-taking, with the price closing near 143,200 yuan per tonne. The contract ultimately closed up 2.61% at 143,200 yuan per tonne, whilst open interest fell by 9,640 lots.

In the spot market, downstream buyers purchased on a needs-based basis at lower levels; some downstream firms saw an increase in spot order demand as long-term contract volumes were reduced due to maintenance at upstream lithium salt plants. Upstream lithium salt plants remained relatively cautious regarding spot sales; those with maintenance plans prioritised long-term contract supply this month, whilst some showed a slight easing in their willingness to maintain prices. Overall, market enquiries and actual transactions remained relatively stable.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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[SMM Daily Review: 3 August – Spot Lithium Carbonate Continues to Fall] Today, SMM’s spot price for battery-grade lithium carbonate continued to fall compared with the previous working day. The lithium carbonate 2609 contract opened lower today at 137,500 yuan per tonne; following the opening, it fluctuated lower and quickly dipped, touching a low of 135,600 yuan per tonne; Subsequently, long positions drove a volatile rebound, with the price fluctuating around the moving average line during the morning session; as the morning session drew to a close, long positions intensified, propelling the price to rapidly break through the 140,000 yuan mark and surge to 140,800 yuan per tonne. In the afternoon, the price retreated amid selling pressure from short positions and profit-taking, and consolidated within a narrow range of 138,800–139,000 yuan per tonne towards the close, eventually closing down 1.15% at 138,900 yuan per tonne, with open interest decreasing by 3,474 contracts. In the spot market, as it was the first working day of the month, downstream material manufacturers began dispatching goods under long-term contracts and for customer orders; spot buyers remained cautious, purchasing only on an as-needed basis when prices were relatively low. Upstream lithium salt producers continued to maintain their willingness to support prices for spot sales, with the focus at the start of the month on ensuring supply through long-term contracts and contract volume increases. Overall, the level of activity in market enquiries and actual transactions declined somewhat.

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