SMM Daily Comment: Spot Lithium Carbonate Prices Surged 5% on August 24

Published: Aug 24, 2026 13:26 (GMT+8)

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Today, the SMM battery-grade lithium carbonate spot price surged 5% from the previous trading day. In futures, the most-traded contract LC2701 opened higher at 161,500 yuan/mt, hit a high of 162,500 yuan/mt during the session, and closed the morning session with a gain of nearly 3%. The sharp price surge was mainly due to the slower-than-expected progress of production resumptions at Jiangxi mines, which continuously heightened market concerns over tightening lithium ore supply, pushing prices to climb rapidly. Demand side, as month-end approaches, downstream material plants are actively stockpiling for next month's production, and spot order purchase willingness has notably strengthened; on the spot market, some lithium chemical plants undergoing maintenance continue to prioritize long-term contract supply, while those not in maintenance have seen a significant increase in their willingness to sell spot orders as prices broke through recent highs, with market inquiries and actual transactions becoming more active.

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