While the Guangzhou futures exchange opened flat yesterday, later in the day it rallied quite strongly (on this website red = up).
One day doesn't mean much, but I'll take a +5 to +6% daily strength across the whole futures curve over a flat or declining result.
The futures market also has a positive slope to the price curve with higher prices for longer dated futures contracts. Whether you believe that market is free trading or heavily manipulated, its still pricing lithium carbonate to increase in price from current levels, not decrease. That increase is +7% between Jan 2024 and Aug 2024. Note - Not shown in the screen capture is the Sep-Dec 2024 contracts which are between 104.7k RMB and 105.5k RMB and were up 5.4k to 5.7k.
Banter and general comments, page-35968
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