[SMM Daily Review: March 9 Spot Lithium Carbonate Prices Dropped Slightly]
The SMM battery-grade lithium carbonate index price dropped slightly from the previous business day. Futures side, the most-traded contract opened lower and quickly slid to 142,000 yuan/mt, then bottomed out and rebounded, rallying to an intraday high of 165,000 yuan/mt, with open interest once increasing by about 10,000 lots; afterward, prices fluctuated rangebound around 160,000 yuan/mt. As of the close, open interest for the day fell by 3,200 lots from the previous trading day.
In terms of actual transactions, spot order shipments from upstream lithium chemical plants remained scarce, with a strong willingness to hold prices firm amid reluctance to sell. Downstream material plants continued the buy-the-dip strategy; while some enterprises purchased at lower price levels, most remained cautious and on the sidelines. Overall, market inquiries were relatively active, but actual transactions were still sluggish.
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