SMM Daily Commentary: Spot Lithium Carbonate Price Continues Rising on August 10

[SMM Daily Commentary: Spot Lithium Carbonate Price Continues Rising on August 10]

Today, the SMM battery-grade lithium carbonate spot price continued to climb from the previous working day. The lithium carbonate 2609 contract opened higher at 140,500 yuan/mt today, with bulls quickly stepping in after the opening and pushing the price rapidly above 144,000 yuan/mt. During the morning session, the price fluctuated on the strong side within the range of 144,000–146,000 yuan/mt, with the center holding high despite some pullbacks. Around midday, the price pulled back slightly to near 143,500 yuan/mt and consolidated. In the afternoon, bulls exerted strength again, sending the price climbing amid consolidation to an intraday high. It closed near 146,400 yuan/mt at the end of the session, ultimately ending up 2.87% at 146,400 yuan/mt, with open interest decreasing by 19,531 lots.

In the spot market, supply side, lithium chemical plant maintenance was concentrated from July to August, with plants having maintenance plans prioritizing long-term contract shipments, leaving spot order shipments limited. Today, although some lithium chemical plants’ willingness to hold prices firm softened slightly, the shipment scale remained limited. Demand side, some downstream companies shifted to spot order restocking due to reduced long-term contract volumes, with purchases below 140,000 yuan/mt increasing significantly. However, as prices consolidated and rose today, downstream willingness to chase higher prices was insufficient, and purchases remained mainly based on rigid demand. Overall, inquiries were active but actual transactions were relatively sluggish.