By the end of trading on the afternoon of October 12, the 2,701 lithium carbonate futures contract had fallen 11.79% to close at 10,4680 yuan/ton, falling below the 110,000 yuan mark, breaking the New Year's low. Compared to the contract's high of over 200,000 yuan/ton in mid-May this year, it almost “fell short” in less than half a year. In terms of the spot market, according to Shanghai Steel Union data, the market price range for high-quality lithium carbonate was 120,500 yuan/ton to 122,000 yuan/ton on October 9, the battery-grade lithium carbonate market price range was 118,500 yuan/ton to 122,000 yuan/ton, and the industrial grade lithium carbonate market price range was 116,500 yuan/ton to 120,000 yuan/ton. The industry expects the lithium carbonate market to remain volatile in the short term, and attention needs to be paid to new fundamentals and macro-variables, but since the market is still in a rapid pace of withdrawal, if the base gap continues to strengthen, compounded by supply disturbances in Africa and Jiangxi at the end of the year, causing a mismatch between supply and demand, lithium prices are expected to rebound steadily. However, demand expectations themselves are difficult to confirm and falsify. It is difficult to revise this part of the forecast, which will cause prices to be highly limited, but if negative feedback occurs, lithium carbonate prices will continue to fall.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.