SMM

At the beginning of the week, the domestic spot lithium carbonate market remained stable, with the price center holding steady and no significant fluctuations observed. The SMM battery-grade lithium carbonate average price was 73,550 yuan/mt, down 50 yuan/mt from the previous trading day; the industrial-grade lithium carbonate average price was 71,300 yuan/mt, also down 50 yuan/mt from the previous trading day. Lithium carbonate futures prices continued their fluctuating trend, with the most-traded contract oscillating between 72,300-74,800 yuan/mt. National Day stockpiling by downstream material plants has largely concluded, leading to a noticeable slowdown in market transactions. Supply side, spodumene-based lithium carbonate production accounted for over 60% of the total, becoming a key support for market supply; lepidolite-based lithium carbonate production share fell to 15%. Overall, September saw simultaneous growth in both supply and demand, but with demand growing at a faster pace, resulting in continued destocking during the month.