[SMM Daily Review: January 29 Spot Lithium Carbonate Prices Continued to Decline]
The SMM battery-grade lithium carbonate index price was 166,721 yuan/mt, down 3,734 yuan/mt from the previous working day. SMM Battery-grade lithium carbonate was priced at 162,000-174,000 yuan/mt, with an average price of 168,000 yuan/mt, down 4,000 yuan/mt from the previous working day. SMM Industrial-grade lithium carbonate was priced at 159,000-170,000 yuan/mt, with an average price of 164,500 yuan/mt, down 4,000 yuan/mt from the previous working day.

Today, the most-traded lithium carbonate futures contract moved sideways. The open interest of the most-traded contract decreased by 8,638 lots, with the price fluctuating between 158,800 yuan/mt and 173,900 yuan/mt. In terms of trading activity, spot order quotations from upstream suppliers relatively decreased, and their willingness to sell declined. Downstream material plants, driven by rigid demand and stockpiling for February, increased spot order purchases when prices were relatively low. Overall, market inquiries and transactions were relatively active.