SMM Daily Review: Lithium Carbonate Spot Prices Drifted Lower on August 25

Today, SMM spot battery-grade lithium carbonate price compared with the previous trading day. On the futures side, prices drifted lower. The lithium carbonate 2701 contract opened at 159,500 yuan/mt today, fluctuated lower after the open, and moved sideways below the average price line in the morning session, hitting a high of 159,900 yuan/mt. Around midday, bears concentrated their efforts, and the price quickly broke below 155,000 yuan/mt. In the afternoon, it consolidated on a weak note at lows; although it rebounded slightly during the period, it failed to break through the resistance of the average price line. In the final session, the price dipped again and hit a new intraday low of 150,300 yuan/mt, ultimately closing down 6.09% at 150,300 yuan/mt, with open interest decreasing by 4,912 lots.

In the spot market, as prices drifted lower, downstream buyers stockpiled on dips as needed, while upstream lithium chemical plants' willingness to sell spot orders decreased. Overall, market inquiries and actual transactions were active. Today's price drift lower was mainly driven by two factors: first, market expectations of production resumptions at Jiangxi mines turned positive; second, macro sentiment was weak, and systemic risk appetite declined, putting pressure on lithium prices.