SMM Daily Review: Spot lithium carbonate prices continued to drift higher on September 18

Published: Sep 18, 2026 15:18 (GMT+8)

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Today, SMM battery-grade lithium carbonate spot prices continued to drift higher compared with the previous working day. The lithium carbonate 2701 contract opened higher at 132,000 yuan/mt today. After the open, bulls failed to extend the gains, and bears quickly entered to pressure prices, sending them consolidating lower and accelerating downward after breaking below the average price line. Around midday, prices dipped to a low of 125,200 yuan/mt. In the afternoon, bargain hunting emerged at low levels, lifting prices slightly to around 127,500 yuan/mt before they pulled back again. Near the close, prices moved sideways around 127,000 yuan/mt, eventually closing down 2.27% at 127,200 yuan/mt, with open interest up 9,528 lots.

In the spot market, downstream pre-holiday stockpiling continued, and downstream users kept buying the dip today. Upstream lithium chemical plants maintained firm sentiment on spot orders, with spot order quotes remaining relatively strong. A small number of lithium chemical plants sold spot orders mainly by referencing the website's monthly average spot price. As upstream sellers continued to hold back from selling spot orders, downstream spot order purchases were mainly concluded with traders, with some taking delivery of warrants. With active downstream purchasing and stockpiling, and upstream holding prices firm and holding back from selling, the spot-futures price spread for industrial-grade and battery-grade lithium carbonate has continued to strengthen recently, and the price spread between industrial-grade and battery-grade material has narrowed somewhat. Overall, market inquiries and actual transactions remained active.

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