Weekly Overview of Lithium Carbonate Market: Spot Price of Lithium Carbonate Rises Steadily [SMM Weekly Review]

This week, the domestic spot lithium carbonate market continued its upward fluctuating trend, with the price center continuing to rise. The average price of SMM battery-grade lithium carbonate increased from 62,550 yuan/mt at the beginning of the week to 63,650 yuan/mt, with a cumulative increase of approximately 1.1%; the average price of industrial-grade lithium carbonate rose from 60,950 yuan/mt to 62,050 yuan/mt, with an increase of approximately 1.8%. Despite the mild price increase, spot trading activity remained low. This reflects insufficient inventory preparation willingness among downstream material plants and relatively cautious procurement strategies.

From the perspective of market drivers, the rigid demand from some downstream enterprises supported the prices. Coupled with the expected improvement in production schedules for the new energy industry chain in July, market sentiment has recovered. However, the pressure on the supply side has not yet been alleviated, with lithium carbonate production remaining high and industry inventory in a loose state, limiting the upside room for prices. Meanwhile, the futures market has shown an irrational rebound, deviating somewhat from the spot market fundamentals, necessitating vigilance against short-term capital-induced volatility risks.

Looking ahead, lithium carbonate prices may maintain a pattern of fluctuating at lows. Whether the upward trend can continue depends on the actual recovery of demand. Conversely, if demand recovery falls short of expectations, prices may come under renewed pressure.