The limit price range for lithium carbonate futures is about to be adjusted, and the Guangxi Futures Exchange responds

On January 19, the Guangxi Futures Exchange issued a notice stating that, after research and decision, starting from the settlement on January 21, 2026, the price limit for lithium carbonate futures contracts will be adjusted to 11%, the margin standard for speculative trading will be adjusted to 13%, and the margin standard for hedging trading will be adjusted to 12%. The Shanghai Securities Journal noted that prior to this, the Guangxi Futures Exchange had introduced a series of risk control measures for lithium carbonate futures, including raising trading fee standards, lowering trading limits, and increasing the minimum order quantity for opening positions, aimed at increasing trading costs, limiting the maximum number of positions opened in a day, and enhancing the risk resistance of trading clients, in order to curb market enthusiasm and promote a rational trading atmosphere. On January 20, a relevant person in charge of the Guangxi Futures Exchange responded to reporters regarding the adjustments related to lithium carbonate futures contracts, stating that there are many uncertain factors affecting the operation of lithium carbonate futures recently, and the price fluctuations of lithium carbonate have increased, attracting high market attention. The Guangxi Futures Exchange has always adhered to the requirements of risk prevention, strong regulation, and promoting high-quality development, taking timely risk control measures to ensure the stable operation of the market. Currently, both lithium carbonate futures and spot prices are rising rapidly, with significant volatility in the futures market and intense long-short battles. Under the condition of synchronized fluctuations in futures and spot prices, industrial clients are actively participating in hedging to mitigate price fluctuation risks. Market data shows that since the beginning of this year, the main contract for lithium carbonate futures has risen from 121,580 yuan/ton to a peak of 174,060 yuan/ton on January 13, followed by a decline for four consecutive trading days. On January 20, the main contract for lithium carbonate futures closed up 8.99%, at 160,500 yuan/ton. The market believes that the adjustment of the price limit for lithium carbonate futures from 9% to 11%, the margin for speculative trading from 11% to 13%, and the margin for hedging trading from 10% to 12% is essentially a "pro-cyclical calibration" of contract risk parameters by the exchange against the backdrop of significant price volatility. Wang Bolong, a researcher in the new energy group at Haitong Futures Research Institute, analyzed that considering the elastic fluctuations in lithium carbonate prices, increasing the price limit is beneficial for the market to fully discover prices in the long-short battle, avoiding liquidity squeeze caused by frequent limit hits; simultaneously raising margins is aimed at increasing leverage costs, curbing excessive speculation and emotional short-term trading, and reducing the risks of unilateral squeezing and chain liquidation. "Overall, this is enhancing the stability and shock resistance of market operations by increasing capital constraints and risk buffers without intervening in the price direction," Wang Bolong stated. It is understood that the recent trend of lithium carbonate futures has shown a typical "supply-demand phase mismatch + emotion-driven volatility." On one hand, the reduction of export tax rebates for batteries and expectations of future cancellations have triggered a phase of export rush and installation rush, forming a pulse-like amplification of short-term demand for lithium carbonate; on the other hand, against the backdrop of low inventory of lithium carbonate, the "energy storage demand narrative" and the production reduction/resumption rhythms of some mines, lithium salt plants, and iron lithium plants have caused lithium carbonate futures prices to fluctuate widely at high levels within the emotional pricing range of 150,000 yuan to 170,000 yuan Relevant personnel from the Guangzhou Futures Exchange stated that in the future, the exchange will closely monitor the situation of the lithium carbonate futures and spot markets, strengthen pre-research and judgment, and take targeted risk control measures based on market conditions to ensure the effective functioning of the futures market. At the same time, it will adhere to regulatory measures that are "sharp and pointed," effectively fulfilling its frontline regulatory responsibilities, and strictly and swiftly investigating violations of trading rules to maintain the normal order of the futures market. Risk Warning and Disclaimer The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investment based on this is at one's own risk.