Chinese Lithium Carbonate Prices Drop to CNY 104,400 as Rally Cools
Chinese lithium carbonate prices have retreated sharply from their 2026 highs, settling at CNY 104,400 per tonne. Although prices remain up 43.01% over the past 12 months, the recent decline reverses much of the rapid surge that began in late 2025 and peaked near CNY 200,000 per tonne in May. Concurrently, a basket of lithium stocks fell 0.37% on the day to 261.88, struggling to sustain its own market recovery.
The slide in physical lithium prices highlights how quickly momentum can turn in major commodity rallies. After climbing past CNY 150,000 per tonne in January and hitting annual highs in late spring, carbonate prices experienced consecutive monthly declines from June through October. This downturn brings spot prices back near late 2025 levels, creating pressure across the supply chain even as equity markets show choppy, uneven price movements.
Market participants are monitoring key technical levels for equities, where the stock basket has frequently fluctuated between support at 250 to 260 and resistance around 290 to 300. Observers will also track whether physical carbonate prices can stabilize near current levels or if divergent market forces will cause further divergence between raw material spot rates and equity valuations.
Key points
- Chinese lithium carbonate prices stand at CNY 104,400 per tonne, up 43.01% over 12 months but down from a May peak near CNY 200,000.
- A benchmark index of lithium stocks closed down 0.37% at 261.88, reflecting an uneven recovery across the equity sector.
- Lithium carbonate prices rose steadily from CNY 72,000 per tonne at late 2025 before dropping steadily from June through October.
- The lithium equity basket has traded primarily between support levels of 250-260 and resistance levels of 290-300.
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How we writeDisclaimerQuestions and answers
What is the current price of Chinese lithium carbonate?
Chinese lithium carbonate is valued at CNY 104,400 per tonne. While this is up 43.01% over the past 12 months, it is well below its May 2026 peak of nearly CNY 200,000 per tonne.
How have lithium stocks performed alongside commodity prices?
The lithium stock basket closed at 261.88, down 0.37% for the day. Equities have experienced choppy trading, oscillating mainly between support at 250-260 and resistance around 290-300.
Why are lithium prices pulling back from their 2026 highs?
After surging from CNY 72,000 per tonne in late 2025 to almost CNY 200,000 per tonne in May, lithium carbonate experienced steady monthly declines from June through October, returning prices near late-2025 levels.