Overview:Today’s SMM battery-grade lithium carbonate spot price was compared with the previous working day. In the futures market, prices drifted lower in volatile trading. The lithium carbonate 2701 contract opened at 159,500 yuan/mt, then moved lower after the open. In the morning session, it moved sideways in a narrow range below the average price line, with an intraday high of 159,900 yuan/mt. Around midday, bears stepped up their selling in a concentrated manner, and the price quickly fell below 155,000 yuan/mt. In the afternoon session, it consolidated on a weak note at low levels; although it rebounded slightly during the session, it failed to break above resistance at the average price line. Near the close, it moved lower again and set a new intraday low, bottoming at 150,300 yuan/mt. It ultimately closed down 6.09% at 150,300 yuan/mt, with open interest down 4,912 lots. In the spot market, as prices fluctuated and drifted lower, downstream buyers stockpiled on dips based on immediate needs, while upstream lithium chemical plants showed reduced willingness to sell spot orders. Overall, market enquiries and actual transactions were active. From the perspective of the drivers, today’s volatile decline in prices was mainly influenced by two factors: first, improved market expectations for production resumptions at mines in Jiangxi; second, weak macro sentiment, with a decline in systemic risk appetite weighing on lithium prices.