The most-traded lithium carbonate futures price was again on the rollercoaster in the reporting period (November 22 - 28), with the price hike boosted by the bullish expectations from Tianqi Lithium's chair. Against the bullish market sentiment, the spot market transactions seemed to be more cautious. Downstream buyers showed low acceptance of high spot prices, with procurement primarily driven by rigid demand and post-pricing models, leading to relatively lackluster spot transactions and inventory accumulation in the trading sector. The current lithium carbonate market is under intense tug-of-war between bullish and bearish factors.