SMM Daily Review: Oct 29 Sees Rising Spot Lithium Carbonate Prices Amid Strong Demand

Published: Oct 29, 2025 17:12

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[SMM Daily Review: October 29 Spot Lithium Carbonate Prices Continue to Rise]

SMM battery-grade lithium carbonate index price stood at 79,207 yuan/mt, up 654 yuan/mt from the previous working day. Battery-grade lithium carbonate was priced at 77,500-80,800 yuan/mt, with an average price of 79,150 yuan/mt, up 650 yuan/mt MoM. Industrial-grade lithium carbonate was quoted at 76,400-77,500 yuan/mt, averaging 76,950 yuan/mt, up 650 yuan/mt from the previous working day.

Lithium carbonate futures prices moved sideways, with the center of the most-traded contract shifting upward to the 81,300-83,300 yuan/mt range. Operating rates at downstream material plants continued to climb, supporting spot transaction demand. However, as prices rose, lithium chemical plants grew more reluctant to sell, leading to mediocre market trading activity. Supply side, overall operating rates at lithium chemical plants remained high, with both spodumene and salt lake operations maintaining rates above 60%, serving as the primary supply sources. Total lithium carbonate production in October is expected to continue climbing, potentially reaching a new record high. Demand side performance was even stronger. The new energy vehicle market saw rapid growth in both commercial and passenger segments, while the ESS sector experienced robust supply and demand, collectively boosting lithium battery material demand. Overall, strong demand supported a significant destocking trend in the market.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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