Lithium Carbonate Prices Decline Amid Weakened Downstream Purchasing Sentiment

[SMM Daily Review: Lithium Carbonate Prices Decline on November 22]

SMM battery-grade lithium carbonate index price was 78,924 yuan/mt, down 338 yuan/mt from the previous working day. Battery-grade lithium carbonate was priced at 77,700-80,500 yuan/mt, with an average price of 79,100 yuan/mt, down 300 yuan/mt from the previous working day. Industrial-grade lithium carbonate was priced at 75,350-76,350 yuan/mt, with an average price of 75,850 yuan/mt, down 300 yuan/mt from the previous working day. Currently, downstream material plants are not very clear about the actual order situation for the future, coupled with the year-end destocking expectations, resulting in a weakened purchasing sentiment recently, with a cautious and wait-and-see attitude prevailing. Upstream lithium chemical smelters have a strong sentiment to stand firm on quotes, and there is a significant gap in psychological expectations between upstream and downstream. Overall, the actual transaction situation in the market is relatively quiet. It is expected that the spot prices of lithium carbonate will continue to fluctuate rangebound in the future.