Lithium Carbonate Prices Dip Further Amid Oversupply Concerns, SMM Daily Report

[SMM Daily Comment: Lithium Carbonate Prices Dipped on August 7]

The SMM battery-grade lithium carbonate index stood at 80,329 yuan/ton, a decrease of 121 yuan/ton from the previous working day; the price range of battery-grade lithium carbonate was 78,600-82,200 yuan/ton, with an average price of 80,400 yuan/ton, down 100 yuan/ton from the previous working day; the price range of industrial-grade lithium carbonate was 74,900-76,000 yuan/ton, with an average price of 75,450 yuan/ton, also down 100 yuan/ton from the previous working day. The trading price focus of the lithium carbonate spot market continued to shift downwards, with slightly more active quotation inquiries from both upstream and downstream players. Despite the increase in inquiries from material factories when lithium carbonate prices are at a relatively low point, purchases are still primarily driven by rigid demand. Upstream lithium salt factories, considering their cost issues, still maintain a stance of price support. There remains a certain gap between the psychological expected transaction prices of lithium salt factories and material factories. Under the current oversupply situation, lithium carbonate prices are expected to remain weak.