The lithium carbonate futures price recorded another losing day, partly because the GFEX warrants recorded a historical high of 56,045 lots since the launching of this contract, with a collective increase of around 17,203 lots through May. Coupled with the relative slow transactions at early month, the lithium carbonate prices remained on the downtrend.
Nevertheless, the fundamentals remained solid. According to public data, as of June 3, 14 OEMs have released their electric vehicle sales figures for May 2026. BYD, SAIC Motor, and Geely Auto ranked as the top three, with monthly sales of 383,500 units, 182,500 units, and 133,400 units, respectively. On a month-on-month basis, 11 of the 14 OEMs posted sales growth, with Changan Automobile recording the largest increase. Looking ahead, the market focus will remain on the inventory front, with players weighing the anticipated inventory drawdown through June and potential supply pick-up in the long run.
