Lithium Carbonate Futures Plunge Below 140,000 Yuan/Ton

The significance here is that futures have fallen to a level the industry itself identifies as the cost line for producers reliant on purchased ore, which is why maintenance shutdowns are already appearing. That matters most for marginal, high-cost converters rather than integrated producers, and it points to supply discipline emerging through losses rather than coordination. Whether more high-cost capacity actually idles — and whether that is enough to steady the curve — is the open question worth watching.