Today, SMM's spot lithium carbonate price edged lower compared to the previous trading day. The lithium carbonate 2701 contract opened higher at 152,500 yuan/mt, then drifted lower after the open, fluctuating around the average line in the morning session, with a quick dip to 150,500 yuan/mt to hit an intraday low. Subsequently, bullish funds stepped in to push prices higher, and prices consolidated in the 151,500-152,000 yuan/mt range around noon. In the afternoon, bears made a concentrated push, sending prices sharply higher to break above 153,000 yuan/mt and shot up to 154,000 yuan/mt to set an intraday high. This was followed by bearish selling pressure, causing prices to pull back, and finally moved sideways in the 152,100-152,200 yuan/mt range near the close. The contract eventually settled 0.41% higher at 152,200 yuan/mt, with open interest increasing by 5,953 contracts.
In the spot market, downstream buyers primarily made just-in-time procurement on dips. As prices fluctuated repeatedly, downstream material plants turned increasingly cautious and wait-and-see. Upstream lithium chemical plants slowed down the pace of spot order shipments as prices drifted lower. Overall, market inquiries and actual transactions remained mediocre.
This week, China's lithium carbonate production edged down, mainly due to maintenance at salt lake-based lithium chemical plants. Some producers using spodumene and lepidolite resumed production gradually after completing maintenance, while production pace at recycling plants was largely normal. Judging from market transactions and inventory performance, some upstream lithium chemical plants that were not under maintenance saw a gradually stronger willingness to sell spot orders as prices drifted higher. Meanwhile, those under maintenance continued to prioritize long-term contract supply, resulting in a more noticeable digestion of inventories. Downstream material plants still mainly made just-in-time procurement on dips, with some enterprises making moderate restocking when prices were relatively low. Traders maintained stable inventory levels overall, supported by upstream spot shipments and downstream just-in-time procurement.
![Lithium Carbonate Market Weekly Review: 8.17-8.20 Spot Lithium Carbonate Prices Rose First and Then Fell, Drifting Lower Overall [SMM Weekly Commentary]](https://imgqn.smm.cn/usercenter/mzgdV20251217171729.png)
