SMM

On February 19, the lithium carbonate 2407 main contract declined, down 2.47%. Data showed that the lithium carbonate 2407 main contract opened at RMB 97,000/mt, closed at RMB 94,750/mt, with trading volume of 66,470 lots and open interest of 148,907 lots, up 10,679 lots from the previous trading day. SMM’s assessment of spot battery-grade lithium carbonate prices were RMB 94,300-99,500/mt, averaging RMB 96,900/mt, down RMB 150/mt from the previous working day. The trend shows that after opening, the lithium carbonate price rose slightly and then fell back before rising to the daily high of RMB 97,950/mt and consolidating in a horizontal pattern. It then declined in oscillation into the morning session before a major drop in the main contract after the noon opening. It then operated below the daily moving average line, closing down 2.47% eventually.