Weekly Review of the Lithium Carbonate Market: Spot Lithium Carbonate Prices Rise Steadily [SMM Weekly Review]

This week, China's spot lithium carbonate market continued to fluctuate upward, with the price center rising steadily. The SMM battery-grade lithium carbonate average price increased from 72,450 yuan/mt at the beginning of the week to 73,450 yuan/mt, a cumulative increase of about 1.38%; the industrial-grade lithium carbonate average price rose from 70,200 yuan/mt to 71,200 yuan/mt, an increase of about 1.42%. In terms of market performance, the transaction price center in the spot market gradually moved higher, leading to weaker procurement activity WoW. However, considering pre-holiday stockpiling demand for National Day, market transactions remained relatively active at low points.

In terms of supply, lithium carbonate produced from spodumene raw material accounted for over 60%, becoming a key support for market supply; lithium carbonate from lepidolite raw material decreased to 15%. In the futures market, the most-traded contract showed a sideways movement pattern, fluctuating between 71,500-74,000 yuan/mt, maintaining linkage with the spot market but with relatively larger volatility.

Looking ahead, the market is expected to see simultaneous growth in supply and demand, but with demand growing faster, leading to a projected phase of tight supply.