Today, the spot price of lithium carbonate continues to decline.

Today, the SMM battery-grade lithium carbonate spot index continued to decline compared to the previous trading day. The main futures contract opened lower at 141,000 yuan/ton in the early session, then fluctuated narrowly around 144,000 yuan/ton; after midday, prices fell back to around 140,000 yuan/ton and continued to fluctuate, quickly rising to 149,500 yuan/ton near the close. By the end of the trading day, open interest decreased by approximately 7,000 lots compared to the previous day.

In the spot market, downstream material manufacturers mainly purchased within the range of 141,000-144,000 yuan/ton. As the month-end approaches, companies are gradually beginning to stock up for early April purchases. Upstream lithium salt producers’ spot sales remain weak, with some fixed-price quotes above 160,000 yuan/ton, but actual transactions are limited. Overall, prices today hovered narrowly at low levels, with buying sentiment in the industry chain improving slightly, and actual transactions showing some activity.

On the macro level, influenced by escalating geopolitical tensions in the Middle East, there are expectations of tightening crude oil supply, which has driven oil prices to fluctuate upward. Market risk appetite has decreased accordingly, putting pressure on industrial metal prices. From the supply side, the Zimbabwe incident has raised concerns about supply disruptions, potentially pushing lithium carbonate prices higher. In summary, in the short term, lithium carbonate prices are likely to remain volatile within a broad range due to the tug-of-war between bearish macro sentiment and supply constraints. (Shanghai Nonferrous Metals Network)