The most-traded lithium carbonate futures contract closed last Friday with mild increase, rising for the second day in a row. Yet, the downstream buyers remained cautious, with few transactions heard on the market. In addition, the basis quotes weakened palpably.
Nonetheless, the fundamentals did not support a substantial rally at the current stay, with carbonate production scheduling rising and cathode scheduling slowing for November. And Mysteel's tracking of lithium carbonate inventory also suggested a slowdown in the destocking pace. Overall, the lithium carbonate prices are likely to remain rangebound in the short period, with focuses on demand resilience for 2027 and marginal changes in the energy storage sector.
