SMM Daily Review: The negative sentiment in lithium carbonate market increased

SHANGHAI, August 2 (SMM) –

The index for SMM battery grade lithium carbonate was 274805 yuan/mt yesterday August 1, a decrease of 4295 yuan/mt compared to the previous working day; the price range of battery grade lithium carbonate was 267,000-281,000 yuan/mt, a decrease of 3500 yuan/mt compared to the previous working day; industrial grade lithium carbonate between 253,000-265,000 yuan/mt, down 3500 yuan/mt from the previous working day. According to SMM, there are currently rumors of production reduction by downstream enterprises. Upstream inventory has accumulated and downstream procurement demand has not yet expanded on a large scale. Therefore, the negative sentiment in the lithium carbonate market increased as a whole. However, downstream enterprises may restock soon after previous destocking effort, which may allow the price of lithium carbonate to stabilize by then.