The most-traded GFEX lithium carbonate futures contract hovered rangebound but mostly moved in the postive zone yesterday. Mysteel's tracking of lithium carbonate inventory across the industry chain, released this Wednesday, pointed to continued destocking, underpinning the expectations of traditonal seasonal high.
However, the upside cap remained firm as relatively high lithium carbonate prices in the first half will likely be translated into rising supply in the coming year, sustaining the estimation of supply growth outpacing the demand, especially when electric vehicle sales slowed and energy storage demand sustainability remained to be watched. Taken together, the lithium carbonate prices are expected to keep rangebound in the short period.
