On April 7th, the spot price of lithium carbonate slightly increased

Today, the spot price of battery-grade lithium carbonate in the SMM market slightly increased compared with the previous working day. In the futures market, the main contract opened lower at around 158,000 yuan/ton, then quickly dropped to an intraday low of 155,000 yuan/ton after the open; afterward, it rebounded rapidly and traded higher with fluctuations. In the afternoon, it once surged to 164.3 thousand yuan/ton, setting a new intraday high, but toward the close the price fell back to 159,000 yuan/ton for the close, with an intraday amplitude of over 5.6%. As of the close, open interest decreased by about 9 thousand hands compared with the previous trading day.

In the spot market, the ongoing game between upstream and downstream continues, and price expectations are clearly divergent: upstream spot offer prices and psychological expectations generally hold firm at 160,000 yuan/ton and above, but actual selling/shipment willingness today was not strong. Downstream material manufacturers maintained steady just-need procurement, with a small number of transactions around 157,000 yuan/ton, and most psychological price levels were still anchored below 155,000 yuan/ton. Overall, both market inquiry activity and transaction scale are relatively subdued.

Looking ahead, the key variables for the near-term include the marginal demand increase brought by the concentrated release of new models in April, the volatility caused by the escalation of geopolitical tensions in the Middle East, and the continued disruption on the lithium carbonate supply side. Based on an overall assessment, as long as supply-side disruptions have not been resolved and downstream just-need demand is supported, lithium carbonate prices in the short term are expected to maintain a relatively strong trend. ( Shanghai Metals Market )