Overview:Today, SMM battery-grade lithium carbonate spot prices fell steadily from the previous working day. The lithium carbonate 2701 contract opened lower at 118,800 yuan/mt today, then consolidated higher to around 119,500 yuan/mt after the open. Subsequently, bears pressed prices down, with the lowest touching 117,000 yuan/mt. Near midday, bulls suddenly pushed prices up rapidly to a session high of 122,000 yuan/mt. In the afternoon, prices failed to hold those gains and consolidated lower. In late trading, prices weakened again, closing near 118,800 yuan/mt, ultimately settling down 1.69% at 118,800 yuan/mt, with open interest decreasing by 8,400 lots.
In the spot market, some downstream buyers continued to buy the dip. With the National Day holiday approaching, pre-holiday stockpiling is nearing its end. Some downstream material plants made spot order purchases for stockpiling while also waiting for long-term contract shipments to gradually arrive at the start of the month. Upstream lithium chemical plants continued to hold spot order prices firm and held back from selling, mainly shipping under long-term contracts and additional volumes under long-term contracts. Overall, the pace of market inquiries and actual transactions slowed down.
Downstream: No more purchases before National Day; current price limit set at 125,000 yuan/mt for lithium carbonate
Downstream: After restocking mid-month, no further lithium carbonate purchases have been made.
Downstream: Purchased at 118,000-119,000 yuan/mt, basically enough for October production; bearish outlook down to around 80,000-100,000 yuan/mt.
Downstream: Still considering buying today, need good-quality material. Not very interested in customer-supplied material this month
Downstream: Intended purchase price of 115,000 yuan/mt
Downstream: Although the price has reached the psychological level of 120,000 yuan/mt, they want to see if it can fall further below 120,000 yuan/mt; also, National Day long-term contract shipments are arriving gradually, so there is no urgency to purchase now.
Downstream: Intended price below 115,000 yuan/mt, still holding some inventory
Downstream: Several production lines will undergo maintenance next month, leading to lower production schedules; due to the maintenance impact, lithium carbonate inventory will last until next month
Upstream: Intended price around 130,000 yuan/mt, with long-term contract volumes increasing next month
Upstream: The intended selling price remains around 130,000 yuan/mt, with long-term contract volumes to increase next month.
Upstream: Still no shipments recently due to high costs; earlier lithium ore purchases were made at high prices, resulting in an inverted cost structure, so no shipments are being made.
Upstream: Spot orders are sold at the website's monthly average price, with production cuts planned in the near term