[SMM Analysis] Weekly Overview of Lithium Carbonate Market: Futures jump initially and then pull back, spot price fluctuates downward

This week, the average spot price of battery-grade lithium carbonate pulled back from 73,900 yuan/mt at the beginning of the week to 72,000 yuan/mt, marking a weekly decline of 2.6%. Meanwhile, the average price of industrial-grade lithium carbonate dropped from 71,700 yuan/mt to 69,900 yuan/mt, falling 2.5% during the week. Buyers and sellers once again reached a deadlock in price negotiations.

Amid the spillover effect of broad-based declines in commodities, lithium carbonate futures prices retreated rapidly. Downstream inquiries were active, and spot market transactions improved, though actual deals remained relatively cautious, primarily driven by rigid demand.

Notably, developments in Jiangxi mines remain a key variable affecting market sentiment. While relevant mines currently maintain normal production, policy uncertainties continue to weigh on market risk appetite.

Looking ahead, after futures complete sentiment-driven valuation adjustments, lithium carbonate prices may gradually realign with fundamental logic. In the short term, downstream wait-and-see sentiment could persist, but the implementation of Jiangxi mine policies and changes in lithium chemical plant operations will remain critical factors influencing price trends. It is advisable to closely monitor official announcements to avoid being misled by unverified rumors in trading decisions.