The most-traded GFEX lithium carbonate contract remained in the negative with players continuting to trade the expectations of rising supply and slowing demand growth in 2027, while the spot price cut was slower than the futures, indicating relatively active spot market, evidenced by sustained destocking and falling warrants at GFEX.
In the near term, close attention should be paid to whether battery makers' year-end production schedules are revised down as expected, as well as the extent of warrant destocking.
