During the mid-to-late October period, lithium mining firms swiftly issued their Q3 reports along with performance forecasts for the initial three quarters, predominantly showcasing favorable outcomes. Nevertheless, notwithstanding the remarkable year-on-year performance surges, ranging from several-fold to even tens-fold increases over the first three quarters, this high-growth momentum failed to persist into the third quarter. Net profits generally saw a quarter-on-quarter decline, with profit growth decelerating markedly. This shift in performance is mirrored directly in the lithium carbonate price trend. Since September, the price of lithium carbonate has been on a downward trajectory, signaling a shift in market trading dynamics and intensifying the interplay between industrial realities and long-term market expectations. On one front, the market is preemptively bracing for a future oversupply scenario; on the other, the spot market continues to witness steady shipments, highlighting the growing rift between market expectations and actual market conditions as the primary point of contention in the current lithium market landscape.