The most-traded lithium carbonate futures contract remained bearish, with the market focuses back to Jianxiawo's restart progress in November, which capped the prices. In addition, there was rumor that some leading battery cell company reduced cell production scheduling for December 2026 and January next year, adding to bearish sentiment though the rumor was not confirmed.
On the spot market, the procurement of lithium ore was modest with lithium converters yet to finish stockpiling for December, and lithium carbonate spot transactions slightly picked up when the prices dropped. In addition, slowing lithium carbonate destocking and rising GFEX warrants kept pressuring the prices. Yet, lithium carbonate prices approaching the breakeven point of converters relying on outsourced feedstock will provide certain support. Overall, the lithium carbonate prices will remain rangebound in the near term.
