[SMM Analysis] Review of Last Week's Spot Lithium Carbonate Price Trends

Last week, the center of spot lithium carbonate transaction prices moved downward. The weekly average price of battery-grade lithium carbonate was 75,100 yuan/mt, and that of industrial-grade lithium carbonate was 71,800 yuan/mt, with a decline of around 500 yuan/mt WoW.

From the current market transaction situation, as last week coincided with the year-end period, some enterprises were involved in year-end financial reporting, leading to weaker purchasing sentiment. Moreover, in January 2025, there are signs of a simultaneous decline in supply and demand for lithium carbonate. Some upstream lithium chemical plants have maintenance schedules, and under the pessimistic impact of weakened downstream demand, lithium carbonate production in January is expected to decrease by 9% MoM. Downstream material plants have gradually completed pre-Chinese New Year inventory stocking, coupled with a decline in January production schedules, further weakening purchasing sentiment. Considering the subsequent simultaneous decline in lithium carbonate supply and demand, along with the circulating inventory levels, spot lithium carbonate prices are expected to exhibit sideways movement.