[SMM Daily Commentary: Lithium Carbonate Prices Rise on October 28]
The SMM battery-grade lithium carbonate index price stood at RMB 73,489 per tonne, up RMB 293 per tonne from the previous working day. The price range for battery-grade lithium carbonate was RMB 72,100-75,100 per tonne, with an average price of RMB 73,600 per tonne, an increase of RMB 300 per tonne compared to the previous working day. For industrial-grade lithium carbonate, the price range was RMB 68,950-69,950 per tonne, averaging at RMB 69,450 per tonne, also up RMB 300 per tonne from the previous working day. Downstream demand forecasts are optimistic, driving up the demand for lithium carbonate. Upstream lithium salt factories mainly maintained their pricing stance, and the optimistic demand situation pushed the spot transaction prices of lithium carbonate to slightly increase at the beginning of this week. Considering the current cumulative inventory levels of lithium carbonate, it is expected that spot prices of lithium carbonate will exhibit range-bound volatility.