CICC Wealth Futures: Lithium carbonate maintains a sideways trend, and the upward momentum has clearly weakened

Lithium carbonate is oscillating slightly; the trend matches expectations. Although there is a temporary-closure expectation for some companies in Jiangxi on the supply side, the supposed supply shortage has been repeatedly debunked, and the market’s stimulative effect has weakened. Over the past week, warehouse receipts decreased by 4,639 lots to 42,067 lots, but the absolute figure is still high, exerting a continuing downward pressure on prices. On the demand side, downstream cathode material plants maintain a strategy of replenishing inventories on dips; after prices rise, they switch to watching-and-waiting, with insufficient willingness to chase higher prices. While energy-storage batteries still enjoy high market optimism, the year-on-year decline in passenger-vehicle retail sales limits overall demand support. Lithium carbonate remains in a range-bound pattern, and upward momentum is clearly weakening. (CICC Wealth Futures)
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