Lithium Carbonate Prices Decline on December 6, Outlook for Sideways Movement

[SMM Daily Review: Lithium Carbonate Prices Decline on December 6]

SMM battery-grade lithium carbonate index price was 76,823 yuan/mt, down 201 yuan/mt from the previous working day; battery-grade lithium carbonate was 75,700-78,100 yuan/mt, with an average price of 76,900 yuan/mt, down 200 yuan/mt from the previous working day; industrial-grade lithium carbonate was 73,150-74,150 yuan/mt, with an average price of 73,650 yuan/mt, down 200 yuan/mt from the previous working day. Demand side, downstream material plants considered year-end destocking, thus their purchase willingness was weak under stable long-term contracts and customer supply. Upstream lithium chemical smelters had a strong sentiment to stand firm on quotes at this period. Some traders, aiming for destocking, concluded transactions with downstream at lower price points, thereby pulling down the spot transaction price center of lithium carbonate. Considering the subsequent strong supply and demand pattern, combined with the accumulated inventory level of lithium carbonate, it is expected that lithium carbonate spot prices will continue to show sideways movement.