SMM Daily: Lithium Carbonate Prices Drop on Weak Demand, November 28

【SMM Daily Review: Lithium Carbonate Prices Decline on November 28】

SMM battery-grade lithium carbonate index price was 77,942 yuan/mt, down 370 yuan/mt WoW; battery-grade lithium carbonate was 77,100-79,300 yuan/mt, with an average price of 78,200 yuan/mt, down 400 yuan/mt WoW; industrial-grade lithium carbonate was 74,450-75,450 yuan/mt, with an average price of 74,950 yuan/mt, down 400 yuan/mt WoW. The price center of lithium carbonate spot prices continues to decline. Demand side, downstream material plants are expected to reduce production schedules, and with year-end approaching, some material plants will undergo destocking, leading to weak purchasing sentiment. Supply side, upstream lithium chemical smelters are approaching the time for long-term contract negotiations, resulting in a strong sentiment to stand firm on quotes. Overall, the actual transaction situation in the market is relatively quiet. Considering the expected reduction in future demand, lithium carbonate spot prices are expected to have a slight downward space.