The most-traded lithium carbonate futures contract remained soft in the session ending October 23, with the settlement price declining 5.33% against the previous Friday. The lithium carbonate futures price hovered low after falling below Yuan 100,000/tonne, with the tug-of-war between bearish expectations and firm fundamentals continuing. Nonetheless, the lithium carbonate prices falling below Yuan 100,000/tonne slightly boosted spot transactions, and sustained destocking of lithium carbonate pointed to further tightening of spots supply. In addition, low lithium prices and cost burden have already pushed marginal capacity toward production cuts, but before supply visibly contracts, cost support for prices remains limited.