The most-traded GFEX lithium carbonate contract created a new year-to-date low, and low prices stimulated some release of downstream dip-buying demand, leading to a slight pickup in spot trading, with the basis unchanged. However, amid the downward trend, cathode plants remain relatively cautious about proactive restocking, mainly restocking on a need-based basis. Most LFP producers report that their order books have not yet been materially affected, but with overall market pessimism, corporate concerns have been intensifying. Overall, the market fundamentals have been firm in the near term, and the lithium carbonate prices are projected to move rangebound.
