Overview:Today, SMM battery-grade lithium carbonate spot prices continued to edge up slightly from the previous trading day. The lithium carbonate 2701 contract opened higher today at 132,500 yuan/mt. After the open, bears initially held the upper hand, and prices consolidated lower, touching a low of 130,200 yuan/mt. Subsequently, buying interest emerged at lower levels, and prices gradually rebounded. Around midday, bulls concentrated their strength, and prices shot up quickly to the day's high of 135,300 yuan/mt. In the afternoon, prices consolidated at highs, fluctuating repeatedly around 134,000 yuan/mt. Near the close, prices pulled back slightly, ultimately settling up 2.53% at 134,400 yuan/mt, with open interest basically flat (up slightly by 84 lots). In the spot market, downstream continued to purchase as needed at lower prices, but as prices drifted higher, buying enthusiasm turned more cautious. Upstream lithium chemical plants maintained sentiment to hold prices firm and hold back from selling on spot orders. Overall, both market inquiries and actual transaction pace slowed down. On the news and sentiment front, continued warrant destocking, combined with market confidence in near-term demand resilience, shifted sentiment from earlier pessimism to a slightly more positive tone, and prices drifted higher.