June 25 Lithium Carbonate Spot Price Slightly Declined

Today, SMM battery-grade lithium carbonate spot prices fell slightly compared with the previous working day. In the futures market, the lithium carbonate 2609 contract opened flat at 160,000 yuan/ton today, briefly surged to 161,200 yuan/ton after the open, and then came under selling pressure from shorts, causing it to fluctuate and drop. During the morning, it moved within a narrow range around the average price line, with both longs and shorts repeatedly tugging in the 159,000–160,000 yuan range. Around before and during midday, short funds concentrated their entry, pushing the price to break below the average price line quickly and continue falling. In the afternoon, it accelerated downward again, with the lowest price reaching 150,300 yuan/ton. In the closing period, it consolidated at a low level and then rebounded slightly; ultimately, it closed down 5.54% at 150,800 yuan/ton, and open interest increased by 2,476 lots.

In the spot market, downstream players continued to purchase on dips, with positive sentiment for replenishing inventory by buying around the 150,000 yuan/ton area. Upstream spot orders still maintained a firm pricing and “reluctant to sell” stance. Overall, both market inquiries and actual transactions remained relatively active. This week, lithium carbonate production increased slightly, mainly due to additional supply released from the ramp-up of new capacity on the spodumene side; production at the other raw material end remained relatively stable.

Based on actual market transactions and inventory levels, under the backdrop of the price center of gravity oscillating downward, lithium-salt producers’ scattered-order deliveries continued to maintain a firm pricing and “reluctant to sell” stance, while upstream inventories were basically steady. Downstream material plants continued the strategy of buying on dips; this week, their enthusiasm for replenishing inventory increased notably, leading to some accumulation in their own inventories. Traders followed the downstream buying pace, and their inventories also declined in tandem. Overall, inventory differentiation and adjustments occurred across each link, and market transaction sentiment warmed up. (SMM)