New York, Feb 3, 2026, 06:48 EST — Premarket
- China’s battery-grade lithium carbonate price dropped 2,000 yuan to 153,500 yuan per tonne.
- Albemarle and SQM, two U.S.-listed lithium miners, dipped slightly in premarket trading.
- Traders are keeping an eye on whether February restocking continues, with Albemarle kicking off the next wave of producer earnings on Feb. 11.
Lithium prices in China slipped once more on Tuesday. Battery-grade lithium carbonate was last pegged at 153,500 yuan per metric ton, dropping 2,000 yuan from the previous day, according to Shanghai Metals Market data. (Metal)
The drop hits miners hard since lithium carbonate is a crucial refined chemical for battery cathodes. Spot prices can sharply affect margins and cash flow in the short term, particularly for producers tied to variable contracts.
The move follows a sharp rally that drew new cash into the sector, leaving investors uneasy about the possibility of a stall in the gains.
In China, the top lithium carbonate futures contract swung within a wide range, while spot prices held firm. Upstream sellers hesitated to lower offers as downstream buyers took advantage of the dip ahead of February stockpiling, SMM reported in a daily market note. (Metal.com)
Albemarle dipped roughly 3.3% in U.S. premarket trading, hitting $164.93. Chilean miner SQM dropped around 2.0%, settling near $75.25. Lithium Americas lost about 2.5%, falling to $4.76.
The Global X Lithium & Battery Tech ETF, a key sector proxy, edged up roughly 0.3%, remaining mostly flat.
January’s lithium carbonate market proved a “roller coaster,” according to SMM’s monthly review. Prices surged past 180,000 yuan a tonne toward the end of the month, only to pull back as the rally lost steam. (Metal)
Investors are wrestling with whether demand for energy storage can keep pace with supply growth beyond just daily price swings. “Energy storage is likely to become a game changer for lithium,” said Jinyi Su, a Wuxi-based analyst at consultancy Fubao, but warned that prices rising too high could undermine project economics, according to a Reuters report last month. (Reuters)
A key near-term issue is whether February’s restocking holds up or fades after buyers fill inventories, potentially leaving prices vulnerable if spot supply eases or futures selling picks back up.
Albemarle is set to release its fourth-quarter results after the U.S. market closes on Feb. 11. The report could shift forecasts on contract pricing, volumes, and costs. (Albemarle)
SQM will release its fourth-quarter and full-year results on Feb. 27, per its investor calendar. Investors are zeroing in on realized prices and shipment trends. (Sqm)
Traders are keeping an eye on China’s daily spot prints and the front-month futures range, looking for clues that the recent pullback might deepen. Albemarle’s report on Feb. 11 stands as the next key date to watch.
