[SMM Daily Review: January 28 Spot Lithium Carbonate Prices Continued to Decline]
The SMM battery-grade lithium carbonate index stood at 170,455 yuan/mt, down 970 yuan/mt from the previous working day. SMM Battery-grade lithium carbonate was quoted at 167,000-177,000 yuan/mt, with an average price of 172,000 yuan/mt, down 500 yuan/mt from the previous working day. SMM Industrial-grade lithium carbonate was quoted at 164,000-173,000 yuan/mt, averaging 168,500 yuan/mt, down 500 yuan/mt from the previous working day.

Today, the most-traded lithium carbonate futures contract showed a volatile decline. After opening, the price hovered near 180,000 yuan/mt before quickly turning sharply lower, fluctuating between 164,000 yuan/mt and 182,900 yuan/mt. In terms of trading activity, upstream spot order willingness to sell improved in the morning, but as prices fell rapidly, some lithium chemical plants showed reluctance to sell. Downstream material plants, however, increased their purchase willingness at relatively low prices, mainly making just-in-time procurement and stockpiling for February. Overall market inquiries and transactions were relatively active.