期货研究报告 投资咨询业务资格：证监许可【2011】1778 号 宝城期货煤焦早报（2026 年 1 月 19 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | --- | | 焦煤 | 2605 | 震荡 | 震荡 | 震荡 偏弱 | 震荡 | 基本面乏力，焦煤震荡偏弱 | | 焦炭 | 2605 | 震荡 | 震荡 | 震荡 偏弱 | 震荡 | 供需两弱，焦炭低位运行 | 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为弱势，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为强势。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—商品期货黑色板块 品种：焦煤（JM） 日内观点：震荡偏弱 中期观点：震荡 参考观点：震荡 核心逻辑：截至 1 月 16 日当周，全国 523 家炼焦煤 ...

投资咨询业务资格：证监许可【2011】1778 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为弱势，跌幅 0~1%为偏弱，涨幅 0~1%为偏强，涨幅大于 1%为强势。 期货研究报告 晨会纪要 宝城期货原油早报-2026-01-19 品种晨会纪要 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | 原油 2603 | 震荡 | 震荡 | 偏强 | 偏强运行 | 地缘风险仍在，原油震荡偏强 | 3.偏强/偏弱只针对日内观点，短期和中期不做区分。 主要品种价格行情驱动逻辑—商品期货能源化工板块 原油（SC） 日内观点：偏强 中期观点：震荡 参考观点：偏强运行 核心逻辑：近期美国总统特朗普频繁释放地缘风险信号，格陵兰岛墨西哥或成为美国下一个夺取和 打击的目标。同时美国威胁或对伊朗展开新一轮军事打击，中东地缘风险再度加剧。随着美国总统 特朗普释放可能暂缓打击伊朗的信号， ...

Group 1: Report Summary - The report provides views on financial futures in the bond market, including short - term, medium - term, and intraday outlooks [1][5] - The overall investment view is that Treasury bond futures will be in a state of shock consolidation in the short term [1][5] Group 2: Investment Ratings - No specific industry investment rating is provided in the report Group 3: Core Views - The short - term possibility of a comprehensive interest rate cut has decreased, and the Treasury bond futures will be in shock consolidation [1][5] - Although the macro - economic demand has strong resilience, there are still structural problems, and the effective demand of the household sector is still weak [5] - The future monetary and credit environment will still be relatively loose, and there is still an expectation of an interest rate cut in the future, but the urgency of a comprehensive interest rate cut in the short term is weak [5] Group 4: Summary by Variety TL2603 - Short - term view: Shock [1] - Medium - term view: Shock [1] - Intraday view: Weak [1] - Core logic: The short - term possibility of a comprehensive interest rate cut has decreased [1] TL, T, TF, TS - Intraday view: Weak [5] - Medium - term view: Shock [5] - Reference view: Shock consolidation [5] - Core logic: The macro - economic demand has strong resilience but with structural problems, the future monetary and credit environment is loose, there is an expectation of an interest rate cut in the future, but the short - term urgency of a comprehensive interest rate cut is weak, and the upward momentum of Treasury bond futures is insufficient [5]

Macroeconomic Data Overview - GDP growth in Q3 2025 was 4.8% year-on-year, down from 5.2% in the previous quarter but up from 4.6% in the same period last year [1] - In December 2025, the manufacturing PMI was 50.1%, up from 49.8% in the previous month and flat compared to the same period last year; the non-manufacturing PMI for business activities was 50.2%, up from 50.0% in the previous month but down from 52.2% in the same period last year [1] - In December 2025, the monthly value of social financing was 2.2075 trillion yuan, down from 3.5299 trillion yuan in the previous month and 2.8537 trillion yuan in the same period last year [1] - In December 2025, M0 increased by 10.2% year-on-year, down from 11.5% in the previous month and 13.0% in the same period last year; M1 increased by 3.8% year-on-year, down from 7.2% in the previous month but up from 1.2% in the same period last year; M2 increased by 8.5% year-on-year, up from 8.4% in the previous month and 7.3% in the same period last year [1] - In December 2025, new RMB loans from financial institutions were 910 billion yuan, down from 1290 billion yuan in the previous month and 990 billion yuan in the same period last year [1] - In December 2025, CPI increased by 0.8% year-on-year, up from -0.3% in the previous month and 0.1% in the same period last year; PPI decreased by 1.9% year-on-year, up from -2.3% in the previous month and the same period last year [1] - In November 2025, the cumulative year-on-year growth rate of fixed asset investment was -2.6%, down from 0.5% in the previous month and 3.3% in the same period last year; the cumulative year-on-year growth rate of total retail sales of consumer goods was 4.0%, down from 4.6% in the previous month but up from 3.5% in the same period last year [1] - In December 2025, the year-on-year growth rate of export value was 6.60%, down from 8.20% in the previous month and 10.67% in the same period last year; the year-on-year growth rate of import value was 5.70%, down from 7.40% in the previous month but up from 0.84% in the same period last year [1] Commodity Investment Reference Comprehensive - The Shanghai Futures Exchange adjusted trading limits for certain silver and nickel futures contracts starting from the night session of January 19, 2026 [2] - On January 16, 24 domestic commodity varieties had negative basis, while 45 had positive basis; tin, nickel, and cotton had the largest basis, while butadiene rubber, apples, and strong wheat had the smallest [3] - The CSRC solicited public comments on the "Measures for the Supervision and Administration of Derivatives Trading (Trial)" to regulate the derivatives market and limit excessive speculation [3] - Guotou Ruixin Fund Management Co., Ltd. announced a trading halt for its silver futures fund from 9:30 to 10:30 on January 19, 2026, due to large price fluctuations [4] - The Shanghai International Energy Exchange released a revised contract for the container shipping index (European route) futures, with adjustments to contract months effective from February 10 and to minimum price changes from May 11 [5] - The Hong Kong government is promoting the establishment of a gold central clearing system and will sign a cooperation memorandum with the Shanghai Gold Exchange [5] - The World Bank raised its 2026 global economic growth forecast to 2.6%, up 0.2 percentage points from the previous prediction [5] Metals - On January 19, spot gold hit a record high of $4,649 per ounce, and silver surged over 4% to over $94 per ounce [6] - On January 16, lithium carbonate futures tumbled after a sharp rise, with the main contract hitting the daily limit down, and positions decreased by 20,000 lots [6] - Silver prices have risen over 50% in a month and over 150% in six months, causing concerns in the photovoltaic industry as costs increase [6] - As of January 16, the SPDR Gold Trust's holdings increased by 1.01% to 1,085.67 tons [7] - Since the beginning of 2026, precious metal prices have hit new highs, attracting funds to有色金属-related ETFs, and public funds are actively reporting related products [8] - As of the week ending January 13, COMEX silver speculators reduced net long positions by 2,613 contracts, while gold speculators increased net long positions by 12,292 contracts [8] Coal, Coke, Steel, and Minerals - During the 14th Five-Year Plan period, Shanxi's coal production increased by 1.9 billion tons compared to the 13th Five-Year Plan, and coal mine accidents decreased for four consecutive years [9] - A seminar on intelligent coal mining technology was held, releasing 12 major achievements in intelligent coal mining [9] - The first shipment of nearly 200,000 tons of Simandou iron ore arrived at China Baowu's Majishan Port on January 17 [9] Energy and Chemicals - Venezuela has signed a commercial contract for liquefied petroleum gas, marking the official start of its exports [10] - Fitch expects Bolivia's inflation to decline in 2026 but remain high due to the cancellation of fuel subsidies and wage increases [11] - The US Energy Secretary compared the oil prices in Venezuela before and after certain events [11] - Iraq's daily oil exports are expected to remain at 3.6 million barrels in the next month [11] Agricultural Products - On January 16, the average wholesale price of pork in China was 18.07 yuan per kilogram, up 0.6% from January 9 and 0.3% from last week's average [12] - An African swine fever outbreak was confirmed in a pig farm in South Korea, and about 20,000 pigs will be culled [12] Financial News Compilation Open Market - This week, 951.5 billion yuan of reverse repurchases will mature in the central bank's open market, and 150 billion yuan of treasury cash fixed deposits will mature on Friday [13] - On January 16, the central bank conducted 86.7 billion yuan of 7-day reverse repurchases at an interest rate of 1.40%, resulting in a net injection of 52.7 billion yuan [13] Key News - The central bank and the National Financial Regulatory Administration adjusted the minimum down payment ratio for commercial real estate loans to no less than 30% [14][15] - Since January 19, the central bank has lowered the rediscount and relending rates by 0.25 percentage points [15] - The State Council held a meeting to discuss consumption promotion, debt clearance, and wage payment issues [15] - The Minister of Housing and Urban-Rural Development proposed large-scale urban renewal projects during the 15th Five-Year Plan period [16] - The Ministry of Finance and the State Taxation Administration extended tax incentives for public rental housing [16] - The Ministry of Commerce announced stronger support for green and intelligent consumer goods through trade-in programs [16] - Vice Premier He Lifeng will attend the World Economic Forum Annual Meeting in Davos from January 19 - 22 [16] - China opposed the trade agreement between the US and Taiwan [17] - Canada's Prime Minister visited China, and the two countries reached a trade cooperation agreement [17] - China's total electricity consumption in 2025 exceeded 10 trillion kWh, a year-on-year increase of 5% [17] - The Ministry of Commerce coordinated efforts to promote healthy consumption [17] - The CSRC emphasized market stability and announced reforms to the ChiNext and STAR markets [18] - The General Administration of Customs will focus on coordinated development during the 15th Five-Year Plan period [18] - An expert suggested a new import-export balance strategy and promoting RMB internationalization [18][19] - The EU may impose tariffs on US goods worth 93 billion euros in response to US tariff hikes [19] - Trump may announce a plan to allow 401(k) withdrawals for home purchases, and a former Fed official is a leading candidate for the next Fed chair [19] - Barclays analysts expect US corporate bond issuance to reach $2.46 trillion in 2026, a year-on-year increase of 11.8% [19] - The bond market has been weak since the beginning of the year due to stock market rallies and increased supply [20] - Large certificate of deposit rates are approaching zero [20] - Fujian Sanming Expressway issued the first green highway medium-term note [20] - Several companies announced significant bond-related events, including equity transfers and director changes [20][21] - Credit rating agencies adjusted the ratings of several companies [21] Bond Market Summary - The Chinese bond market showed signs of warming, with bond yields declining and short-term bonds being more active [22] - Treasury bond futures mostly rose, with the 10-year contract up 0.01% [22] - The interbank market liquidity became looser, and money market rates mostly declined [24][25] - The winning bid rate for a 3-year fixed-rate bond issued by the Export-Import Bank of China was 1.6176% [25] - European and US bond yields showed mixed trends [26] Foreign Exchange Market - The onshore RMB closed at 6.969 against the US dollar on January 16, up 8 points from the previous trading day [27] - The US dollar index rose 0.01% in New York trading, and most non-US currencies fell [27][28] Research Report Highlights - CICC Fixed Income believes that the central bank has more policy tools and may use reserve requirement ratio and interest rate cuts if economic conditions worsen [29] - CICC Fixed Income also noted that loan growth is flat, government bond issuance is low, and monetary policy relaxation is expected [29][30] - Huatai Fixed Income pointed out that Hong Kong convertible bonds have advantages but a small market size and low liquidity [29] - Huatai Fixed Income also believes that financial data provides limited information, and short-term bond opportunities are recommended [30] - CITIC Securities expects the social financing scale to show a "high at the beginning, stable later" pattern in 2026 [30] - CITIC Securities also believes that the central bank's rate cut on re-loan tools is a targeted measure, and further rate cuts are possible but not urgent [31] - CITIC Construction Investment believes that the convertible bond market is promising in 2026, with new bonds having good potential [31] - CITIC Construction Investment also noted that the social financing scale in December 2025 decreased year-on-year, and government bonds will continue to drive growth in 2026 [32] Today's Reminders - On January 19, 236 bonds will be listed, 125 bonds will be issued, 74 bonds will require payment, and 691 bonds will make principal and interest payments [32][33][34] Stock Market News - The Shanghai, Shenzhen, and Beijing Stock Exchanges raised the minimum margin ratio for margin trading from 80% to 100%, effective today [35]

投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 宝城期货豆类油脂早报（2026 年 1 月 19 日） 品种观点参考 备注： 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘 价为终点价格，计算涨跌幅度。 2.跌幅大于 1%为弱势，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为强势。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 主要品种价格行情驱动逻辑—商品期货农产品板块 品种：豆粕（M） 日内观点：震荡偏强 中期观点：震荡 参考观点：震荡偏强 专业研究·创造价值 1 / 3 请务必阅读文末免责条款 期货研究报告 时间周期说明：短期为一周以内、中期为两周至一月(以前一日夜盘收盘价为基准) 品种 短期 中期 日内 观点参考 核心逻辑概要 <点击目录链接，直达品种 策略解析> 豆粕 2605 震荡 震荡 震荡 偏强 震荡偏强 进口大豆成本，进口到港节 奏，油厂开工节奏，库存压力 豆油 2605 震荡 震荡 震荡 偏强 震荡偏强 美豆成本支撑，美国生物燃 料政策，美豆油库存，国内 大豆成本支撑，供应节奏， 油厂库存 棕榈 ...

投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 宝城期货铁矿石早报（2026 年 1 月 19 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | 铁矿 2605 | 震荡 | 震荡 | 震荡 偏强 | 关注 MA20 一线支撑 | 产业矛盾累积，矿价承压运行 | 说明： 铁矿石供需格局表现偏弱，库存持续增加，钢厂生产弱稳，矿石终端消耗再度回落，且钢厂盈利 状况改善有限，加之淡季钢市矛盾累积，矿石需求延续偏弱运行，相对利好的则是节前钢厂会补库。 与此同时，国内港口到货持续增加，而矿商发运小幅减量，两者仍处相对高位，海外矿石供应积极， 且内矿供应也在回升，矿石供应维持高位。总之，铁矿石需求偏弱运行，而供应维持高位，矿石供需 格局在走弱，矿价承压运行，但市场情绪尚可，预计走势延续高位震荡态势，谨防交易逻辑切换至产 业端。 （仅供参考，不构成任何投资建议） 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起 ...

Report Summary - **Report Industry Investment Rating**: Not provided - **Core View**: The supply - demand pattern of rebar is weak, and steel prices will continue to fluctuate at a low level. It is recommended to focus on the support at the MA20 line and the production situation of steel mills. [2][3] Details by Category Variety View Reference - The short - term, medium - term, and intraday trends of rebar 2605 are "oscillation", "oscillation", and "weak oscillation" respectively. The view is to focus on the support at the MA20 line, with the core logic being the weak supply - demand pattern and low - level oscillation of steel prices. [2] Market Driving Logic - Over the weekend, steel spot prices remained stable with weak trading volume. The supply - demand pattern of rebar is weak. Construction steel mills' production is stable, and rebar output has slightly declined. However, the profit per ton of the variety is acceptable, so the contraction of supply is difficult to sustain. [3] - Rebar demand has improved, with the weekly apparent demand increasing month - on - month. But the high - frequency daily trading volume is sluggish, and both supply and demand are still at the low level of the same period in recent years. The downstream industry has not improved, and demand continues the seasonal weakness, dragging down steel prices. [3] - Currently, although rebar demand has improved, the sustainability is not strong, while the supply is weakly stable. The fundamentals show seasonal weakness, and steel prices in the off - season are still prone to pressure. The relatively positive factor is the good commodity sentiment. It is expected that steel prices will continue to fluctuate at a low level. [3]

1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - Today, all stock indices fluctuated and consolidated. The total market turnover was 30,547 billion yuan, an increase of 1,163 billion yuan compared to the previous day. The stock market turnover dropped to around 3 trillion, indicating a cooling of the optimistic sentiment in the stock market as the market absorbed the policy signals from the regulatory authorities to reduce leverage and control risks. Since the beginning of the year, the rise in the stock market has mainly come from the increase in the valuation side under the loose liquidity. From the perspective of macro - economic indicators, the expectation of performance recovery is not strong. The market divergence has led to intensified long - short games. Therefore, after this significant rebound, the stock indices need to fluctuate and consolidate, and the short - term volatility of the stock indices will intensify. In the medium - to - long - term, the positive policy expectations and the continuous net inflow of incremental funds into the stock market remain unchanged, and the main logic for the medium - to - long - term upward movement of the stock indices remains unchanged. In general, it is expected that the stock indices will continue to fluctuate and consolidate in the short term. - For options, since the logic for the medium - to - long - term upward movement of the stock indices is relatively solid, a bull spread strategy can be considered [4]. 3. Summary by Relevant Catalogs 3.1 Option Indicators - **Index Performance**: On January 16, 2026, the 50ETF fell 0.63% to close at 3.160; the 300ETF (SSE) fell 0.33% to close at 4.859; the 300ETF (SZSE) fell 0.26% to close at 4.935; the CSI 300 Index fell 0.41% to close at 4,731.87; the CSI 1000 Index fell 0.10% to close at 8,232.73; the 500ETF (SSE) rose 0.22% to close at 8.295; the 500ETF (SZSE) fell 0.03% to close at 3.298; the GEM ETF fell 0.18% to close at 3.346; the Shenzhen 100ETF fell 0.14% to close at 3.538; the SSE 50 Index fell 0.83% to close at 3,079.76; the STAR 50ETF rose 1.27% to close at 1.59; and the E Fund STAR 50ETF rose 1.31% to close at 1.54 [6]. - **Volume and Open Interest PCR**: The report provides the volume PCR and open interest PCR for various options, such as the 50ETF option, 300ETF option (SSE and SZSE), CSI 300 index option, CSI 1000 index option, etc., both for the current day and the previous trading day [7]. - **Implied Volatility and Historical Volatility**: The report presents the implied volatility of at - the - money options and the 30 - day historical volatility of the underlying assets for different options in January or February 2026, including the 50ETF option, 300ETF option (SSE and SZSE), CSI 300 index option, etc. [8][9] 3.2 Relevant Charts - The report includes a series of charts for different options, such as the SSE 50ETF option, SSE 300ETF option, SZSE 300ETF option, CSI 300 index option, etc. These charts show the trends, volatility, volume PCR, open interest PCR, implied volatility curves, and at - the - money implied volatility of different terms of the options [10][21][24].

Report's Industry Investment Rating - No relevant content provided Core Views of the Report - The main contract price of rebar rose 0.06% after hitting a high and falling back, with increasing volume and open interest. Given the weak demand, stable supply, and weakening commodity sentiment, rebar prices are expected to face pressure and fluctuate. Attention should be paid to steel mill production [5]. - The main contract price of hot-rolled coil oscillated, rising 0.33% with increasing volume and open interest. Although the demand for hot-rolled coil is resilient and the fundamentals are stable, the supply is at a high level and there are concerns about demand. If demand weakens, industrial contradictions may accumulate, and prices may face pressure. In the short term, prices will maintain an oscillating trend, and attention should be paid to demand performance [5]. - The main contract price of iron ore oscillated weakly, falling 0.49% with increasing volume and decreasing open interest. Despite positive commodity sentiment and lingering bullish factors, the supply of iron ore is high while demand is weakly stable. The fundamentals are weak, and the upward driving force is not strong. Ore prices will oscillate at a high level, and there is a risk of prices weakening if the trading logic switches to the industrial side. Attention should be paid to steel mill restocking [5]. Summary by Directory 1. Industry Dynamics - The Financial Regulatory Administration aims to promote the regular operation of the urban real estate financing coordination mechanism, resolve risks in small and medium-sized financial institutions, and prevent and resolve risks in related fields [7]. - In December 2025, the sales of various excavators reached 23,095 units, a year-on-year increase of 19.2%. In 2025, a total of 235,257 excavators were sold, a year-on-year increase of 17% [8]. - The government of the Democratic Republic of the Congo is restarting a $29 billion iron ore export development plan, aiming to build a comprehensive mining and infrastructure project in the northern region, with an initial planned annual export capacity of about 50 million tons [9]. 2. Spot Market - In the spot market, prices and price changes are provided for rebar, hot-rolled coil, Tangshan billet, Zhangjiagang heavy scrap, PB fines, Tangshan iron concentrate, freight rates, SGX swaps, and iron ore price indexes [10]. 3. Futures Market - In the futures market, the relevant information of the main contracts of rebar, hot-rolled coil, and iron ore, including closing price, price change percentage, high and low price, trading volume, change in trading volume, open interest, and change in open interest, is presented [12]. 4. Related Charts - **Steel Inventory**: Charts show the weekly changes and total inventory of rebar and hot-rolled coil [14][15][20]. - **Iron Ore Inventory**: Charts display the inventory of 45 ports in China, including inventory changes, seasonal patterns, inventory of 247 steel mills, and domestic mine iron concentrate inventory [22][23][26]. - **Steel Mill Production**: Charts present the blast furnace operating rate, capacity utilization rate, proportion of profitable steel mills, independent electric furnace operating rate, and profit and loss situation of steel mills [29][31][32]. 5. Market Outlook - **Rebar**: Supply is weakly stable, and there is a possibility of increased production. Demand has improved but remains at a low level, and prices are expected to face pressure and fluctuate. Attention should be paid to steel mill production [37]. - **Hot-rolled Coil**: Supply is at a high level, and there are concerns about demand. The short-term trend will be oscillating, and attention should be paid to demand performance [37]. - **Iron Ore**: Supply is high, and demand is weakly stable. Ore prices will oscillate at a high level, and there is a risk of prices weakening if the trading logic switches to the industrial side. Attention should be paid to steel mill restocking [38].

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - The lithium carbonate market is in a weak operation. The closing price of the main contract LC2605.GFE is 146,200 yuan/ton, down 17,020 yuan/ton from the previous day, showing an overall upward trend in the past 10 trading days. The spot price of lithium carbonate is 157,850 yuan/ton, down 0.67% from the previous day, also showing an overall upward trend in the past 10 trading days. The current basis is 4,730 points, a positive basis (spot premium), which has strengthened by 6,450 points from the previous day, and the basis has strengthened overall in the past 10 trading days. The registered warehouse receipt volume of lithium carbonate is 27,458 lots, an increase of 253 lots (+0.93%) from the previous day, and the warehouse receipts have increased overall in the past 10 trading days. The production of energy storage cells remains resilient [4]. 3. Summary by Relevant Catalogs 3.1 Industry Dynamics - **Futures Market**: The closing price of the main contract is 146,200 yuan/ton, down 17,020 yuan/ton from the previous day and up 2,780 yuan/ton from the previous week; the settlement price of the main contract is 153,120 yuan/ton, down 7,520 yuan/ton from the previous day and up 9,940 yuan/ton from the previous week [6]. - **Lithium Ore Prices**: The prices of Australian, Brazilian, Zimbabwean, and Malian lithium spodumene concentrates imported into China have different degrees of decline or increase compared with the previous week. The average price of South African lithium spodumene raw ore and the average prices of lithium mica with different Li₂O contents in China also have corresponding price changes [6]. - **Lithium Salt Prices**: The price of domestic 99.5% electric-grade lithium carbonate is 157,850 yuan/ton, down 1,070 yuan/ton from the previous day and up 17,810 yuan/ton from the previous week. The prices of domestic 56.5% lithium hydroxide and related products also have different degrees of decline or increase compared with the previous day and the previous week [6]. - **Downstream Product Prices**: The prices of some ternary precursors, ternary materials, and other products have increased, while the prices of some products such as electrolyte and lithium hexafluorophosphate have remained unchanged or decreased [6]. 3.2 Related Charts - **Ore and Lithium Prices**: Include lithium mica price change chart, lithium carbonate futures main price chart, lithium carbonate price chart, lithium hydroxide price chart, lithium carbonate basis chart, and lithium hydroxide - lithium carbonate price difference chart [8]. - **Cathode & Ternary Materials**: Include the price charts of manganese - acid lithium, domestic iron - phosphate lithium, cobalt - acid lithium, ternary precursors, and ternary materials [11]. - **Other Related Data of Lithium Carbonate Futures**: Include the change charts of the main trading volume, main open interest, and registered warehouse receipt volume of lithium carbonate futures [19][20].