[SMM Daily Review: Spot Lithium Carbonate Prices Continued to Decline on September 3]
The SMM battery-grade lithium carbonate index stood at 75,755 yuan/mt, down 1,631 yuan/mt WoW. Battery-grade lithium carbonate traded at 73,900-77,900 yuan/mt, with an average price of 75,900 yuan/mt, down 1,600 yuan/mt WoW. Industrial-grade lithium carbonate ranged at 72,900-74,300 yuan/mt, averaging 73,600 yuan/mt, down 1,600 yuan/mt WoW.
Lithium carbonate futures extended losses, with the daytime session’s low breaching the 72,000 yuan/mt level. Downstream material plants were highly active in point pricing. With the September-October peak season approaching, inventory cycles at downstream plants slightly lengthened. Supply side showed structural divergence: output from Jiangxi’s lepidolite sector contracted notably, while spodumene-based increments partially offset the gap. Overall, September’s market is expected to see supply and demand both rise, with demand growth outpacing supply, leading to a temporary tightness.