[SMM Analysis] Lithium Carbonate Prices Continue to Decline, Can Peak Demand Season Provide Support?

The lithium carbonate market continued its downward trend this week, with spot prices fluctuating downward overall. The SMM battery-grade lithium carbonate average price dropped from 82,500 yuan/mt at the beginning of the week to 80,000 yuan/mt by the weekend, a cumulative decline of approximately 2,500 yuan/mt. The industrial-grade lithium carbonate average price also pulled back from 80,200 yuan/mt to 77,700 yuan/mt, indicating significant market pressure.

Amid the sustained price decline of lithium carbonate this week, downstream inquiries and purchase willingness strengthened, resulting in relatively active market transactions. Supply side, spodumene-derived lithium carbonate output remained at relatively high levels, partially offsetting the impact of reduced supply from other raw material sources. Meanwhile, during the September-October peak season, downstream demand still maintained certain rigid support. In the short term, lithium carbonate prices are expected to move sideways.