SMM Analysis On China October LMO Production And November Forecast

In October 2024, China's LMO production saw slight increases both YoY and MoM. The main reason was that the price of lithium carbonate remained relatively stable compared to September, which gradually stabilized LMO prices and boosted production slightly. The pessimistic sentiment among most enterprises also eased somewhat. It is expected that in November, the demand for LMO will grow weakly, and enterprises will maintain stable production. However, due to the overall supply surplus in the market, some enterprises may choose to further reduce production to cope with inventory surplus or downward price pressure. According to market feedback, China's LMO production in November is expected to decline slightly MoM.