The most-traded GFEX lithium carbonate futures price re-claimed some losses after the drastic decline in the previous trading days, partly due to the shorts paying off. More importantly, Mysteel's lastest lithium carbonate inventory survey showed sustained destocking, with a weekly contraction of 3.9%, slightly faster than the previous session. And the stockpiling ahead of the Mid-Autum and National Day holidays provided some support, evidenced by downstream players' lithium carbonate stocks showing accumulation, which kept spot availability relatively tight and basis maintaining strength. It is expected that the lithium carbonate prices will keep rangebound in the near term, as the weak expectations are still in place.
