SMM Daily Review: February 6 Spot Lithium Carbonate Prices Continued to Decline

SMM battery-grade lithium carbonate index stood at 136,038 yuan/mt. Battery-grade lithium carbonate was priced at 127,000-142,000 yuan/mt, with an average of 134,500 yuan/mt. Industrial-grade lithium carbonate was priced at 124,000-138,000 yuan/mt, with an average of 131,000 yuan/mt.

Today, the most-traded lithium carbonate futures contract moved sideways, trading mainly between 124,100 yuan/mt and 138,500 yuan/mt. On the trading front, upstream lithium chemical plants showed strong willingness to hold prices firm and limit sales. Downstream material plants adopted a strategy of buying the dip. Currently, stockpiling by downstream material plants ahead of the Chinese New Year in February is nearly complete, and market inquiries and transactions remained relatively stable.