Overview:Today, the SMM battery-grade lithium carbonate spot price drifted lower compared to the previous working day. In futures, the lithium carbonate 2609 contract opened low today at 143,800 yuan/mt. After opening, bears concentrated their positions, driving prices to quickly breach the average price line and decline persistently, hitting a morning low of 136,800 yuan/mt. Bulls then emerged briefly, pushing prices back up to around 140,000 yuan/mt with some consolidation. Before and after midday, a tug-of-war between bulls and bears kept prices oscillating within the 140,000–142,000 yuan range. In the afternoon, bulls pushed again, driving prices to an intraday high of 144,300 yuan/mt on increased volume. The market consolidated at highs before pulling back slightly into the close, ultimately settling down 4.22% at 141,600 yuan/mt. Open interest decreased by 4,403 lots.
In the spot market, downstream cathode plants and battery makers continued their strategy of restocking at lower prices, with purchases mainly for essential needs. Upstream lithium chemical plants showed relatively firm resolve to hold prices, and their willingness to sell spot orders was weak. Trader inventories remained low, and tight spot circulation pushed the spot-futures price spread to strengthen continuously. Overall, market inquiries and actual transactions were relatively active.
Downstream: Spot order intended purchase price 130,000 yuan/mt, and has not purchased yet today
Downstream: Today Buying at Around 138,000 Yuan/mt
Downstream: Consideration was given to buying at positions below 140,000 yuan/mt today.
Downstream: There were purchases today at 138,000 yuan/mt
Upstream: indicative price for spot order shipments at 160,000 yuan/mt
Upstream: Currently, spot orders would only be sold at 160,000 yuan/mt.
Upstream: sell at a position no lower than 150,000 yuan/mt