The GFEX lithium carbonate futures price kept rangebound yesterday, closing the day session with mild losses, data showed. On the fundamentals, the bears and bulls co-existed, failing to provide a clear directional guidance for lithium carbonate in the near term. On the supply side, lithium carbonate production is expected to rise in September with resuming feedstock shipment from Zimbabwe, while potential disruptions in Brazil and Chile persisted. On the demand end, while LFP cathode production scheduling creates new high, the production of ternary cathode has remained slow, putting pressure on lithium carbonate demand.
In addition, the inventory front has also showed divergent trends, with GFEX warrants nearing 50,000 lots and lithium carbonate inventory drawdown continuing. Overall, it is expected that the lithium carbonate prices will remain rangebound in the short period.
