SMM Daily: Lithium Carbonate Prices Surge Amid Strong Downstream Demand

【SMM Daily Commentary: Lithium Carbonate Prices Rise on October 29】

The SMM battery-grade lithium carbonate index price stood at RMB 73,950 per tonne, up by RMB 461 per tonne from the previous working day; battery-grade lithium carbonate ranged from RMB 72,550 to RMB 75,550 per tonne, with an average price of RMB 74,050 per tonne, increasing by RMB 450 per tonne compared to the previous working day; industrial-grade lithium carbonate ranged from RMB 69,400 to RMB 70,400 per tonne, averaging at RMB 69,900 per tonne, up by RMB 450 per tonne from the previous working day. The center of gravity for lithium carbonate spot transaction prices continued to shift upwards. Downstream demand for production scheduling was relatively optimistic, driving up lithium carbonate consumption. Some downstream material factories had rigid demand for purchases or inventory replenishment, resulting in a relatively optimistic procurement volume. Upstream lithium salt factories mainly maintained their pricing stance, and the optimistic demand situation drove the continuous upward movement of lithium carbonate spot transaction prices. Considering the current cumulative inventory levels of lithium carbonate, it is expected that lithium carbonate spot prices will exhibit rangebound volatility.