Today, the spot price of lithium carbonate continues to rise.

Today, the SMM battery-grade lithium carbonate spot index continues to rise compared to the previous business day. The main contract quickly dipped to 156,800 yuan/ton after opening, then fluctuated and rebounded, reaching a peak of 162,300 yuan/ton at noon; in the afternoon, bulls took profits, and the price retreated to around 157,000 yuan/ton, with a low dipping to 155,200 yuan/ton. By the close, the open interest decreased by about 5,600 lots compared to the previous trading day. In the spot market, actual transactions were light today, with upstream lithium salt manufacturers strongly willing to maintain prices, and the psychological price for scattered shipments remained above 160,000 yuan/ton; downstream material manufacturers mainly adopted a cautious wait-and-see approach, with only a few companies replenishing essential stocks, and transaction intention prices concentrated around 156,000 yuan/ton, leading to an expanded price gap between buyers and sellers and intensified negotiations. The fluctuations in today’s market were mainly driven by two factors—on the supply side, news from the Zimbabwean mines raised market concerns about overseas raw material supply; on the demand side, February’s new energy vehicle export data exceeded expectations, boosting market sentiment. However, the escalating situation in the Middle East suppressed risk appetite, and macro-level uncertainties still exist. Looking ahead, the intensive release of new models in March and April is expected to drive marginal improvements in demand, but attention should be paid to the recovery of shipments from Zimbabwean mines. Lithium carbonate prices are expected to maintain a wide fluctuation pattern in the short term. (SMM)