The Zijin Liyuan 25,000-ton battery-grade lithium carbonate project has entered the final sprint toward production, with main equipment installed and technicians conducting final fine-tuning. PriceSeek analysis of lithium carbonate, with a long-short score: -1.5. The Zijin Liyuan 25,000-ton battery-grade lithium carbonate project is in the final sprint toward production, with main equipment installed and undergoing debugging, indicating that new supply is about to be released. This will exert downward pressure on the spot price of lithium carbonate, as increased market supply may outpace demand growth, putting pressure on prices. At the same time, combined with recent data on lithium carbonate futures (e.g., the main contract 2605 closing at 132,440 yuan/ton, down 12,440 yuan; contract 2609 closing at 132,500 yuan/ton, down 13,240 yuan), expectations of supply expansion have reinforced the downward trend in futures prices, intensifying bearish sentiment. Therefore, a score of -1.5 is assigned, indicating a strong bearish impact.