Trial Production Phase Begins for 10,000-ton Battery-Grade Lithium Carbonate Project at Zhabuye Salt Lake

Today, SMM battery-grade lithium carbonate spot prices continued to drift lower compared with the previous trading day. The lithium carbonate 2701 contract opened lower at 129,300 yuan/mt today. After the open, bears kept up the pressure, and prices drifted lower along the average price line, hitting an intraday low of 124,000 yuan/mt in the morning session. Around midday, bargain hunting emerged at lower levels, and prices rebounded, briefly rising to around 127,000 yuan/mt in the afternoon before meeting resistance and pulling back again. Near the close, prices moved sideways around 125,800 yuan/mt, with open interest down 1,204 lots. In the spot market, downstream buyers continued to stockpile at lower prices ahead of the September and October holidays. A small number of material producers remained cautious, with spot order purchase intentions below 125,000 yuan/mt. Upstream lithium chemical plants continued to hold spot order prices firm and held back from selling, though some high-priced offers softened slightly. Overall, market inquiries and actual transactions remained active.