January 5th News Sichuan Guocheng Lithium Co., Ltd.'s 200,000-ton-per-year lithium salt project is currently undergoing equipment installation, pipeline welding, and structural construction. It is scheduled for completion in February 2026, with trial production set to begin in April of the same year. Chempricehub Analysis of Lithium Carbonate: Bull-Bear Score: -1 Sichuan Guocheng Lithium's 200,000-ton-per-year lithium salt project, scheduled for production in 2026, will increase the supply of lithium carbonate, posing a bearish factor for market prices. The expectation of supply expansion may exert downward pressure on spot prices, but as the project is still in the construction phase (trial production in April 2026), its short-term impact is limited. Combined with lithium carbonate futures data (e.g., the closing price of the 2605 contract at 121,580 yuan/ton, up by +100 yuan, with open interest decreasing by 21,115 lots), the market may have partially digested the news of increased supply. The decline in open interest reflects cautious sentiment among investors, exerting downward pressure on long-term futures prices. Overall Score: -1.0, indicating a generally bearish outlook, as the capacity increase directly exacerbates the risk of oversupply.