The lithium carbonate futures market recorded another losing day with the market players digesting the announcement of consumption tax on lithium-ion batteries. While the fundamentals remained solid, evidenced by sustained destocking, the market lacked fresh catalysts with players eying mounting supply and steadily rising demand in the second half.
On the spot market, when lithium carbonate prices continued to decline, spot buying showed no significant pick-up, with wait-and-see sentiment prevailing. The spot basis remained stable for now.
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