Rida Futures: Overall industry inventory slightly reduced, and spot transactions of lithium carbonate have improved compared to earlier periods.

The main contract for lithium carbonate fluctuated, closing up 1.32%. Open interest increased compared to the previous period, spot prices are at a premium to futures, and the basis strengthened compared to the previous day. Fundamentally, lithium miners are showing strong price support sentiment, with mineral prices trending upward. Smelting plants have relatively sufficient raw materials, and the market remains cautious. On the supply side, smelting plants have ample raw material inventories, and some are engaging in hedging operations during high market prices. Overall production remains stable, with shipment sentiment fluctuating with lithium prices. Domestic lithium carbonate supply is currently stable, with some convergence expected as the holiday approaches. On the demand side, due to significant lithium price volatility, downstream inquiries and stockpiling intentions increase during price declines, while caution prevails at high prices. In terms of inventory, upstream destocking and downstream replenishment are occurring, leading to a slight reduction in overall industry inventory, and spot transactions have improved compared to earlier periods. Overall, the fundamentals of lithium carbonate are likely in a stage of supply stabilization with a slight improvement in demand. (Ruida Futures)