December 30th News
On December 29th, the lithium carbonate futures on the Guangzhou Futures Exchange (GFEX) hit the lower limit during the closing session, declining by 9%. Chempricehub analyzed lithium carbonate, assigning a bearish score of -2. The article pointed out that the lithium carbonate futures on GFEX hit the lower limit during the closing session on December 29th, dropping by 9%, indicating strong selling pressure in the market. Combined with the latest futures data, all lithium carbonate contracts (e.g., the 2605 contract closed at 118,820 yuan per ton, showing a significant decline) experienced widespread declines, with open interest sharply decreasing (e.g., the 2605 contract saw a change of -64,690 in open interest). This suggests that investors are extremely pessimistic about the future market, expecting further price declines. This poses a significant downside risk to the spot price of lithium carbonate, which may stem from weak demand in the new energy vehicle sector or oversupply in the lithium ore market. Therefore, a bearish score of -2 is assigned.
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