Lithium price today: Albemarle, SQM drop as China spot market stays choppy

China’s benchmark lithium carbonate prices plunged on Thursday, with the SMM battery-grade index sliding 5.4% to 141,706 yuan per metric ton from Wednesday. The most-traded lithium carbonate futures contract hit its daily limit down — the maximum allowed drop in one session — before bouncing back. Spot sellers stayed cautious, while buyers took advantage of the dips, SMM reported.

Lithium prices in China took a hit on Friday, with the top-traded lithium carbonate futures contract dropping nearly 9%, repeatedly hitting its daily down-limit at 146,200 yuan per metric ton, according to Shanghai Metals Market. Battery-grade lithium carbonate was valued at an average of 158,000 yuan a ton, down 1,000 yuan from the previous session. The SMM battery-grade index also slipped, falling to 159,477 yuan. SMM reported that upstream sellers hesitated to offer spot cargoes amid the price drop, while the lower levels brought some downstream buyers back into the market.