SMM Daily Review: Spot Lithium Carbonate Prices Fell Steadily on September 29

Published: Sep 29, 2026 17:59 (GMT+8)

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Today, SMM battery-grade lithium carbonate spot prices fell steadily from the previous working day. The lithium carbonate 2701 contract opened lower at 118,800 yuan/mt today. After the open, prices consolidated higher to around 119,500 yuan/mt, then came under pressure from bears and pulled back, touching a low of 117,000 yuan/mt. Near midday, bulls suddenly pushed prices up rapidly to a session high of 122,000 yuan/mt. In the afternoon, prices failed to hold those gains and consolidated lower. In late trading, prices weakened again, closing near 118,800 yuan/mt, ultimately settling down 1.69% at 118,800 yuan/mt, with open interest down 8,400 lots.

In the spot market, some downstream buyers continued to buy the dip. With the National Day holiday approaching, pre-holiday stockpiling is nearing its end. Some downstream material plants made spot order purchases for stockpiling while also waiting for early-month long-term contract deliveries to begin. Upstream lithium chemical plants continued to hold spot order prices firm and held back from selling, mainly shipping under long-term contracts and additional long-term volumes. Overall, the pace of market inquiries and actual transactions slowed down.

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