The lithium carbonate futures price moved rangebound yesterday amidst the intensive tug-of-war between the bulls and bears. Based on Mysteel's sampled players, the lithium carbonate inventory has been falling since mid-April, though the pace was relatively slow. Coupled with falling warrants, the fundamentals have shown sustained strength. Yet, the downstream players were relatively cautious on the whole. While the spot transactions picked up along the price dip, the increase was limited as the players relied on long-term and tolling orders for raw materials.
Currently, the market has seen the wreslting over expected inventory drawdown and scheduled new supply, though these additional supplies are unlikely to turn the market into significant surplus in the near term. Looking ahead, with the lack of strong driving force in sight, the lithium carbonate prices are expected to keep rangebound in the short period.
