SMM Daily Review: Spot lithium carbonate prices drifted lower on September 11

Published: Sep 11, 2026 15:41

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Today, SMM battery-grade lithium carbonate spot prices drifted lower compared with the previous working day. The lithium carbonate 2701 contract opened lower at 140,000 yuan/mt today. After the open, bulls briefly resisted, and the price shot up slightly to 140,400 yuan/mt. Subsequently, bearish pressure was released in a concentrated manner, and the price drifted lower, breaking below the average price line. Near midday, panic selling emerged, and the price accelerated its decline, hitting a low of 128,100 yuan/mt. In the afternoon, dip-buying entered at low levels, and the price gradually consolidated and rebounded, recovering part of the losses. Near the close, the price moved sideways around 135,000 yuan/mt, eventually closing down 4.99% at 134,800 yuan/mt, with open interest decreasing by 1,124 lots.

In the spot market, as prices fell rapidly, downstream dip-buying and stockpiling willingness continued to strengthen. However, with upstream lithium chemical plants holding prices firm on spot orders and holding back from selling, the spot orders available in the market were limited. Overall, market inquiries were active, but actual transactions were relatively stable.

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