The most-traded Guangzhou Futures Exchange (GFEX) lithium carbonate contract pulled back after hitting a year-to-date (YTD) high, with the settlement price marking a weekly contraction of 3.62% as of May 15 against the previous Friday, data showed. On the spot market, while the players have fully priced in the lithium resource supply disruptions, the slow spot transactions, capped by high lithium prices, started to weigh on the market, in addition to accumulating warrants. Yet, the lithium carbonate basis showed strength with lithium carbonate futures price turning bearish, suggesting that the sellers still held the prices firm, especially when the fundamentals remained solid.