The most-traded GFEX lithium carbonate contract recorded another losing day, with market sentiment bearish still, partly because CATL disclosed a lower-than-expected Q3 earnings report. On the spot market, the lithium carbonate prices remained soft, which triggered some speculative restocking among downstream players, with spot transactions slightly picking up compared with the previous few trading days.
On the demand side, LFP prices have recently tracked lithium carbonate's poor performance. Leading cathode plants have recently raised the proportion of lithium carbonate supplied under tooling arrangements, slowing LFP producers' own procurement demand accordingly. Combined with the sharp drop in lithium carbonate prices, corporate sentiment has turned cautious, and no substantial surge in spot transaction volume has appeared.
