Today, SMM battery-grade lithium carbonate spot prices drifted lower from the previous trading day. The [LC]2701 contract opened higher at 151,000 yuan/mt today, then consolidated lower and quickly dipped to a low of 148,300 yuan/mt. Subsequently, bull capital intervened to push prices into a rebound, with a sharp rally in early morning breaking above the average line and shooting up to 154,900 yuan/mt. Around midday, prices consolidated at highs in the 153,000–154,000 yuan/mt range. In the afternoon, prices pulled back and fell below the average line, trading narrowly in the 152,000–152,200 yuan/mt range toward the close, ultimately settling 1.17% lower at 152,200 yuan/mt, with open interest increasing by 4,552 lots.
In the spot market, downstream buyers purchased at lows on a need basis, with strong interest in post-price-fixing position closing and need-based stockpiling at levels below 150,000 yuan/mt. Upstream lithium chemical plants, nearing month-end, also slowed their willingness to sell spot orders, with some preparing for long-term contract deliveries. Overall, market inquiries and actual transactions remained relatively active.
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