[Dongwu Electric New] Lithium Carbonate Weekly Update (7.24-7.30): Continued Inventory Drawdown This Week, Short-Term Lithium Price Fluctuation

English summary

#Price: This week, lithium carbonate spot prices rose, while concentrate prices fell. SMM battery-grade at RMB 141,500/ton, +1.8% WoW; spodumene concentrate (CIF China) at USD 2,095/ton, -0.48% WoW. Futures main contract LC2609 fell from 145,000 (2026/7/23) to 141,000, down 2.76%. #Inventory: This week, inventory fell by 3,324 tons to 84,000 tons, with 26,000 tons destocked since the beginning of 2026. Among this, downstream inventory decreased 3,215 tons WoW to 47,000 tons, smelter inventory increased 1,051 tons WoW to 14,000 tons, and trader inventory decreased 1,160 tons WoW to 22,000 tons. Warehouse receipts at 39,000 lots, -4.9% WoW. #Production: This week, production decreased by 1,027 tons to 22,800 tons, of which spodumene-based lithium production decreased 734 tons WoW to 11,775 tons, salt lake production increased 127 tons WoW to 5,396 tons, and lepidolite-based lithium production decreased 340 tons WoW to 2,405 tons. #The peak season is coming to hedge against marginal supply increase, and the logic of supply tightness remains unchanged. ...