SMM Daily Review For Chinese Spot Lithium Carbonate Market (Aug 7)

SHANGHAI, Aug 7 (SMM) –The SMM battery-grade lithium carbonate index was 259,419 yuan/mt on August 7, a decrease of 5,492 yuan/mt from the previous working day. Battery-grade lithium carbonate price range was 248,000-265,000 yuan/mt, a decrease of 6,000 yuan/mt from the previous working day; industrial-grade lithium carbonate price range was 238,000-249,000 yuan/mt, a decrease of 5,000 yuan/mt. Since the current downstream demand is weak, but the inventory on the supply side is sufficient, the short-term mismatch between supply and demand causes a continuous decline in the market, intensifying the wait-and-see sentiment. Buyers are mainly delivering long-term orders, while only a small number of orders are traded in the spot market. Downstream buyers are trying to bring down purchase prices amid the current market situation.