Lithium Carbonate Prices Dip Further as Market Sentiment Remains Cautious on October 22

[SMM Daily Commentary: Lithium Carbonate Prices Decline on October 22]

The SMM battery-grade lithium carbonate index price stood at RMB 73,202 per ton, down RMB 127/ton from the previous working day; battery-grade lithium carbonate ranged from RMB 71,500 to 75,200 per ton, with an average price of RMB 73,350 per ton, falling RMB 150/ton from the previous working day; industrial-grade lithium carbonate ranged from RMB 68,700 to 69,700 per ton, with an average price of RMB 69,200 per ton, also down RMB 150/ton from the previous working day. The transaction price center of the lithium carbonate spot market continued to shift downwards. Upstream lithium salt factories still maintained a strong stance on price support; downstream material factories currently have no intention of stockpiling for November, holding a cautious wait-and-see attitude. Although downstream demand in October maintained relatively optimistic expectations, due to the current level of lithium carbonate inventories, downstream material factories' intentions to stockpile were not strong. It is expected that the spot price of lithium carbonate will continue to show a downward trend in the near future.