The lithium carbonate futures price rebounded last Friday June 5 after the contract hit a near-term low. On the fundamentals, Mysteel's survey suggested that China's lithium carbonate production in May 2026 was 101,200 tonnes, down 2.3% month-on-month, slightly above early forecasts as some spodumene plants completed maintenance early. June production is scheduled at 106,400 tonnes, up 5.2% month-on-month, driven by higher operating rates in Sichuan after overhaul and scheduled port arrivals.
Yet, latest survey indicated that energy storage batteries contributed nearly 40% of lithium carbonate consumption, making the end-market more sensitive to the prices. While the players are focused on improving supply and and stable demand, the lithium carbonate prices lack strong catalyst for a further rally in the near term.
