SMM Daily Review: Spot Lithium Carbonate Prices Consolidated Higher on August 28

Published: Aug 28, 2026 15:17 (GMT+8)

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SMM battery-grade lithium carbonate spot prices consolidated higher versus the previous business day. The lithium carbonate 2701 contract opened higher at 154,000 yuan/mt. After the open, it briefly dipped to 152,100 yuan/mt, setting an intraday low, before bulls’ funds actively stepped in and prices rebounded amid consolidation. In the morning session, it fluctuated within the 153,000–156,000 yuan/mt range; despite some back-and-forth, the center gradually moved higher. Approaching midday, bulls made a concentrated push, and prices quickly surged past 156,000 yuan/mt. In the afternoon, strength continued, consolidating on a strong note at elevated levels and climbing further. Near the close, it shot up to 159,600 yuan/mt, setting an intraday high, and ultimately closed up 4.77% at 159,600 yuan/mt, with open interest increasing by 28,232 lots.

Spot market: As prices consolidated higher and with month-end coinciding, downstream material plants turned more cautious in purchase willingness. Some saw raw material replenishment as customer-supplied material and long-term contracts were shipped successively around month-end and early month. Upstream lithium chemical plants had relatively limited spot order shipments, with some needing to reserve part of their inventory for long-term contract deliveries. Overall, market inquiries and actual transactions were relatively sluggish.

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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