For lithium carbonate, the spot transactions were lackluster, and the price hike put the downstream players on the sidelines. Some cathode plants stockpiled on rigid demand. Looking ahead, the proportion of long--term orders for 2026 was still at a low level in relative to the production scheduling. Coupled with the low in-plant inventory held by the cathode plants, the persistent stockpiling needs will likely keep the lithium carbonate prices resilient.