China lithium carbonate benchmark falls 1,750 yuan to 98,800 yuan/t

The benchmark slipping below the 100,000 yuan mark is a psychological line for the lithium complex, and the move is notable because it reflects the battery-grade mid-price that feeds directly into cathode cost models. It matters most for Chinese converters and cathode makers whose margins are squeezed when the carbonate floor keeps eroding. The open question is whether this is a one-session move or the start of a broader repricing, and whether the SMM mid-price keeps tracking the early-session weakness through the 16:30 close.