Since the beginning of November, the price of lithium carbonate futures has been falling. On November 7, it once fell to a low of 141,200 yuan/mt, a new low since the futures were launched. As of the close, the most-traded lithium carbonate futures contract dropped 4.33% to 142,550 yuan/mt.
US stocks responded favorably after assurances in the banking sector were put forward by the Federal Reserve, along with a show of confidence by large US banks
S&P 500 has fallen back to support at the prior resistance level of 4110. With US strength driving stocks lower, Nasdaq is testing another key zone of support at 12500.
S&P 500 and Nasdaq futures have remained under pressure ahead of FOMC minutes. While recession rate expectations continue to drive sentiment, stocks remain vulnerable.