[SMM Lithium Carbonate Daily Review] Lithium carbonate bottomed out on October 19, reclaiming the key 100,000 yuan level

Published: Oct 19, 2026 17:45 (GMT+8)

Save

SMM Lithium Carbonate Comment:

Market and Macro News

1. The Ministry of Natural Resources' latest round of mineral exploration results show that the lithium mine exploration project at the Jiada mining area in Barkam, Sichuan has passed review and filing, with identified lithium resources of 423,700 mt (average grade 1.26%, equivalent to approximately 1.0468 million mt of LCE). After the reserve increase, the cumulative filed LCE at the Jiada lithium mine has risen to 2.531 million mt. The first mining area has a production scale of 2.6 million mt/year, and after reaching full production, it will produce approximately 50,000 mt of lithium carbonate annually.

2. According to Chilean customs data, Chile's total lithium carbonate exports in September 2026 were 18,900 mt, down 21.61% MoM and up 18.6% YoY. Of this, exports to China were 13,500 mt, down 5.61% MoM. In September, Chile's lithium sulfate exports to China were 9,900 mt, down 39.38% MoM.

Spot Market

Today, SMM's spot battery-grade lithium carbonate quotes were 99,900-106,000 yuan/mt, with an average price of 102,950 yuan/mt, up 800 yuan/mt from the previous trading day, ending the prior streak of rapid declines. The low-end quote for industrial-grade lithium carbonate was 96,400 yuan/mt, up 1,000 yuan/mt from the previous trading day. After a rapid dip, futures rebounded, sellers were generally cautious, and most buyers chose to wait for lower prices, resulting in overall sluggish trading.

Futures Market

The most-traded lithium carbonate futures contract LC2701 opened lower and moved higher, bottoming out and rebounding. It opened in the morning at 96,000 yuan/mt, a sharp gap-down of more than 3,000 yuan/mt from the previous trading day's settlement price. The market then stopped falling and rebounded, reaching an intraday high of 102,000 yuan/mt in the afternoon before pulling back slightly near the close. It ultimately settled at 100,560 yuan/mt, up 1,480 yuan/mt or 1.49% from the previous trading day's settlement price. The rebound came with rising volume and falling open interest, with clear signs of some bears taking profits and exiting positions.

Short-Term Outlook:

The short-term lithium carbonate market is in a tug-of-war between "tight reality and loose expectations," and prices are expected to swing wildly around the 100,000 yuan/mt level in the near term.

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

[Solid-state battery: Doubts remain over GHTECH's launch of lithium sulfide products]

[Solid-state battery: Doubts over GHTECH's claim of launching lithium sulfide products to market] On October 16, 2026, GHTECH (002741.SZ) stated on the Shenzhen Stock Exchange's Easy Interaction platform, in response to an investor's question about "whether lithium sulfide has begun small-batch production and supply," that its lithium sulfide products have been launched to the market, with capacity, validation, and orders progressing steadily as planned. Revenue in the first three quarters reached 3.575 billion yuan, up 74.89% YoY; net profit attributable to the parent company was 129 million yuan, up 42.29% YoY; and net profit excluding non-recurring items was 124 million yuan, up 40.44% YoY. However, SMM has not yet identified which electrolyte enterprises are using GHTECH's lithium sulfide products.

3 hours ago

[Solid-state battery: Dongguan Institute of Materials, Chinese Academy of Sciences, develops oxychloride solid electrolyte LAGCO, with raw material cost estimated at about $40.8/kg]

[Solid-State Battery: CAS Dongguan Institute of Materials Develops Oxychloride Solid Electrolyte LAGCO with Estimated Raw Material Cost of $40.8/kg] On October 8, 2026, a research team led by Researcher Liu Lifeng from the Dongguan Institute of Materials Science and Technology, Chinese Academy of Sciences / Songshan Lake Materials Laboratory, in collaboration with teams from Hunan University and the Institute of Physics, CAS, developed a crystalline-amorphous heterostructure oxychloride solid electrolyte LiAl₀.₅Ga₀.₅Cl₂.₅O₀.₇₅ (LAGCO). This system reduces reliance on expensive rare-metal halides, with an estimated raw material cost of approximately $40.8/kg, achieving a synergy of fast ion transport and stable interfaces in the oxychloride solid electrolyte direction. SMM believes that lithium aluminum gallium chloride oxide (LAGCO) combines fast ion transport with stable interfaces, reduces dependence on rare metals, and has a raw material cost of approximately $40.8/kg, offering a new pathway for low-cost oxychloride solid electrolytes. However, its performance compatibility and mass-production consistency still require verification.

3 hours ago

5 hours ago

September lithium battery black mass output down MoM, LFP pulls back notably[SMM Analysis]

China's total lithium battery black mass production pulled back notably in September, with the MoM decline widening from the previous month. According to SMM data, total black mass production that month was approximately 56,000 mt, down about 15% MoM from August.

5 hours ago