SMM Commentary: Lithium Carbonate Prices Stabilize on Nov 6, Outlook Slightly Upward

[SMM Daily Commentary: Lithium Carbonate Prices Remain Stable on November 6]

The SMM battery-grade lithium carbonate index price stood at RMB 74,805 per tonne, marking a decrease of RMB 55 per tonne from the previous working day. Prices for battery-grade lithium carbonate ranged from RMB 74,050 to RMB 75,850 per tonne, with an average price of RMB 74,950 per tonne, remaining unchanged from the previous working day. Industrial-grade lithium carbonate prices ranged from RMB 70,300 to RMB 71,300 per tonne, averaging at RMB 70,800 per tonne, also unchanged from the previous working day. The consecutive rise in lithium carbonate prices has weakened the inventory replenishment sentiment among some downstream material factories. Apart from downstream factories with rigid demand for procurement, other downstream manufacturers are currently adopting a cautious stance. Upstream lithium salt factories, amid relatively optimistic downstream production schedules, still maintain a strong stance on price support. Considering the current cumulative inventory levels of lithium carbonate, it is expected that spot prices of lithium carbonate will show a slight upward trend, accompanied by fluctuations within a certain range.