[SMM Analysis] Lithium Carbonate Prices Dip, Chile Exports 24,100 mt in August

Today, SMM battery-grade lithium carbonate spot prices drifted lower from the previous working day. The lithium carbonate 2701 contract opened higher today at 143,000 yuan/mt. After the open, bulls quickly pushed prices up, with the price shooting up to 144,700 yuan/mt to hit a new intraday high, before encountering selling pressure from bears and pulling back. In the morning session, prices fluctuated around the average price line, briefly dipping to 141,700 yuan/mt to hit a new intraday low. Around midday, prices rebounded in consolidation, trading in the 142,500-143,500 yuan range. In the afternoon, bulls and bears tussled repeatedly, and in late trading, bulls concentrated their efforts, quickly lifting prices to around 143,500 yuan/mt. The contract ultimately closed up 1.34% at 143,500 yuan/mt, with open interest increasing by 3,580 lots.

In the spot market, downstream buyers made just-in-time procurement at lower prices, while some material plants remained cautious and wait-and-see. Upstream lithium chemical plants continued to hold spot order prices firm, with some still quoting at 155,000 yuan/mt or above. Overall, market inquiries and actual transactions remained relatively stable.

According to Chile customs export data, Chile's total lithium carbonate exports in August 2026 were 24,100 mt, up 3.07% MoM and up 42.48% YoY. Of this, exports to China were 14,261 mt, down 5.25% MoM but up 9.85% YoY; exports to South Korea were 6,630 mt, up 64.8% MoM and up 118.86% YoY; exports to Japan were 1,164 mt, down 26.75% MoM but up 112.2% YoY. In August 2026, Chile's total lithium sulfate exports to China were 16,300 mt, up 111.83% MoM and up 136.24% YoY.