Lithium Carbonate Prices Surge on Elevated Downstream Demand, November 12

[SMM Daily Commentary: Lithium Carbonate Prices Rise on November 12]

The SMM battery-grade lithium carbonate index price was 76,572 yuan/tonne, up 1,204 yuan/tonne from the previous working day; battery-grade lithium carbonate ranged from 76,000 to 77,400 yuan/tonne, with an average price of 76,700 yuan/tonne, an increase of 1,200 yuan/tonne compared to the previous working day; industrial-grade lithium carbonate ranged from 72,350 to 73,350 yuan/tonne, with an average price of 72,850 yuan/tonne, up 1,500 yuan/tonne from the previous working day. In November, downstream demand continued to climb, increasing the consumption of lithium carbonate, and downstream demand for spot purchases of lithium carbonate on a piecemeal basis also increased. At this juncture, upstream lithium salt factories exhibited strong price-supporting sentiments and raised their quotes, but the downstream was cautious about the current price increases. Overall, trading volume declined slightly. Considering the cumulative inventory levels of lithium carbonate, it is expected that the spot price increase of lithium carbonate will be limited in the near future.