12月25日，一份关于锂盐现货结算价调整的文件在行业内流传。 文件显示，自2026年1月1日起，天齐锂业所有产品现货交易结算价将不再参考现有标准，调整为参考 Mysteel（上海钢联）的电池级锂盐价格，或者参考广期所的碳酸锂期货主力合约价格。 对此，21世纪经济报道记者从业内人士处核实了上述定价调整文件的真实性。 此前，该公司现货定价锚定SMM（上海有色）的现货价格，而此次调整则源于其价格与其他行业机 构、期货之间的明显价格差。 以12月24日为例，当天近月合约LC2601的结算价为12.1万元/吨，SMM的电池级碳酸锂市场均价则为 10.15万元/吨，二者相差接近2万元/吨。 不过，需要指出的是，经过近期的连续上涨后，碳酸锂期货的高位波动风险正在快速增加。 当天，现货价格整体处于"贴水"状态。公开数据显示，Mysteel的早盘电池级碳酸锂市场价格区间为 11.45万元~11.75万元/吨，平均价为11.6万元/吨，百川盈孚的电池级碳酸锂市场均价与之相差不多，当 天上涨至11.5万元/吨左右。 一方面，交易所层面在不断加大调控力度。24日晚间广期所宣布，自12月26日交易时起，对LC2601等 合约单日开仓量 ...

Group 1 - Tianqi Lithium Industry announced that starting from January 1, 2026, all product spot transaction settlement prices will no longer reference SMM prices, but will be adjusted to either Shanghai Steel Union's high-quality battery-grade lithium carbonate and battery-grade lithium hydroxide (coarse particles) prices, or the main contract price of lithium carbonate on the Guangzhou Futures Exchange, as chosen by customers [1] - On December 25, the SMM battery-grade lithium carbonate price range was between 97,800 yuan/ton and 112,000 yuan/ton, while Shanghai Steel Union's early morning battery-grade lithium carbonate market price range was between 114,500 yuan/ton and 117,200 yuan/ton, and the closing price of the lithium carbonate futures main contract was 123,520 yuan/ton [1] - In 2025, the domestic lithium carbonate price showed a trend of first declining and then rising, with the fundamentals shifting from a loose supply-demand balance to a scenario of increasing supply and demand, indicating that supply-demand mismatch will be the main theme of the lithium carbonate market in 2026 [1] Group 2 - Tianqi Lithium Industry focuses on lithium as its core business, including the development of hard rock lithium resources, production and sales of lithium concentrate, and production and sales of lithium chemical products [2] - Shengxin Lithium Energy's main business includes lithium ore mining and selection, as well as the production and sales of basic lithium salts and lithium metal products [2]

据21财经消息，12月25日，一份关于锂盐现货结算价调整的文件在行业内流传。文件显示，自2026 年1月1日起，天齐锂业所有产品现货交易结算价将不再参考现有标准，调整为参考Mysteel（上海钢 联）的电池级锂盐价格，或者参考广期所的碳酸锂期货主力合约价格。 调整的导火索直指碳酸锂市场现货价格与期货价格之间日益扩大的鸿沟。以12月24日为例，当天广 期所碳酸锂近月合约LC2601的结算价为12.1万元/吨，而SMM的电池级碳酸锂市场均价则为10.15万元/ 吨，价差接近2万元/吨。 01 巨头的抉择 从天齐锂业发布的定价调整文件来看，此次变动并非心血来潮。文件明确指出，近期受市场多重因 素影响，SMM的产品报价与现货公允价值及期货价格出现了"持续且显著的偏离"，这种"结构性差 异"已超出公司正常经营风险承受范围，对供应链稳定构成了挑战。 作为国内锂盐行业的龙头企业，天齐锂业的定价调整迅速引发行业广泛关注。新定价体系为客户提 供了两种选择：参考上海钢联的优质电池级碳酸锂或氢氧化锂价格，或者参考广期所碳酸锂主力合约价 格。 值得注意的是，上海钢联向市场提供三种参考价：优质电池级碳酸锂、电池级碳酸锂和工业级碳酸 锂 ...

12月25日，一份关于锂盐现货结算价调整的文件在行业内流传。 文件显示，自2026年1月1日起，天齐锂业所有产品现货交易结算价将不再参考现有标准，调整为参考Mysteel（上海钢联）的电池级锂盐价格，或者参考广 期所的碳酸锂期货主力合约价格。 对此，21世纪经济报道记者从公司人士处核实了上述定价调整文件的真实性。 此前，该公司现货定价锚定SMM（上海有色）的现货价格，而此次调整则源于其价格与其他行业机构、期货之间的明显价格差。 以12月24日为例，当天近月合约LC2601的结算价为12.1万元/吨，SMM的电池级碳酸锂市场均价则为10.15万元/吨，二者相差接近2万元/吨。 不过，需要指出的是，经过近期的连续上涨后，碳酸锂期货的高位波动风险正在快速增加。 一方面，交易所层面在不断加大调控力度。24日晚间广期所宣布，自12月26日交易时起，对LC2601等合约单日开仓量进一步收紧，25日早盘部分碳酸锂期 货合约跌幅也一度达到5%以上。 另一方面，24日还有媒体报道称，宁德时代枧下窝锂矿预计在春节前后复产。类似消息反反复复已经出现至少三次，市场的承受度也在不断提升，不过一旦 该项目成功复产，势必会增加短期供给。 ...

2026锂电关键材料及应用市场高峰论坛 会议背景 2026年，锂电行业正以磅礴之势开启新一轮周期性增长浪潮，其特征表现为需求端的强势复苏、全球 化版图的加速扩张、技术路线的颠覆性迭代，形成"量价齐升+技术跃迁"的螺旋式上升格局。 会议主办： 鑫椤资讯 会议时间： 2026年3月19-20日 会议地点： 江苏·常州 会议咨询： 13248122922（微信同） 据鑫椤资讯的预测，2025年全球锂电池产量将达到2250Gwh，2026年的增长率将达到30%，其中储能 领域增速更是有望达到48.3%，呈现出"海内外需求双轮驱动、上下游产业链协同爆发"的盛况。如此爆 发式的市场需求，对电芯及上游四大主材的需求产生了巨大的拉动作用。 然而，从当前有效产能情况来看，电芯及各种材料的远期供应存在着一定的缺口。面对明确的供应缺 口，如何保障稳定、高效的供应链，将成为抓住这轮确定性增长的关键。 -广告- 关注公众号，点击公众号主页右上角" ··· "，设置星标 "⭐" ，关注 鑫椤锂电 资讯~ 会议议题 为把握锂电行业这一轮发展机遇，鑫椤资讯将于 2026年3月19日-20日 (19日报到)举办 2026锂电关键 材料及应用市 ...

Group 1 - Lithium stocks continue to rise, with Ganfeng Lithium up 3.47% at 58.1 HKD and Tianqi Lithium up 2.92% at 54.55 HKD [1] - On December 23, lithium carbonate futures prices surpassed 120,000 CNY per ton, with a daily increase of over 5%. As of the latest update, the main contract is priced at 124,360 CNY per ton [1] - CITIC Securities indicates that a major mica lithium mine in Jiangxi has delayed its resumption of production, which may push back the timeline further into January, affecting inventory levels and supporting price increases for the coming year [1] Group 2 - The China Nonferrous Metals Industry Association's lithium division released a report on the lithium industry's performance in November 2025, indicating a gradual increase in lithium carbonate futures prices and optimistic market expectations for future prices [1] - On the supply side, market inventory is decreasing, while lithium salt production has slightly declined, and lithium spodumene production has seen a minor increase [1] - On the demand side, there is a surge in sales of new energy vehicles before subsidy reductions, and energy storage performance is strong [1]

Core Viewpoint - Lithium stocks continue to rise, driven by increasing lithium carbonate futures prices and supply chain disruptions affecting production timelines [1] Group 1: Market Performance - As of the report, Ganfeng Lithium (01772) increased by 3.47% to HKD 58.1, while Tianqi Lithium (09696) rose by 2.92% to HKD 54.55 [1] - On December 23, lithium carbonate futures prices surpassed RMB 120,000 per ton, with a daily increase of over 5% [1] - The main contract for lithium carbonate further increased by over 5%, reaching RMB 124,360 per ton [1] Group 2: Supply Chain Insights - A major mica lithium mine in Jiangxi announced its first environmental assessment on December 18, leading to delays in production resumption, with no recovery expected in December and challenges anticipated in January [1] - The expectation of inventory accumulation during the off-season is further weakened, while low inventory levels are expected to support price increases in the coming year [1] - If the mine's resumption continues to be delayed, it may not support the demand during the second quarter peak season, amplifying the upward price elasticity of lithium [1] Group 3: Industry Outlook - The China Nonferrous Metals Industry Association's lithium division recently released a report on the lithium industry's performance for November 2025, indicating a gradual increase in lithium carbonate futures prices and greater volatility [1] - The third-quarter performance of lithium companies showed a rebound, with optimistic market expectations for future lithium prices [1] - On the supply side, market inventory is gradually decreasing, while lithium salt production has slightly declined, and lithium spodumene production has seen a minor increase [1] - On the demand side, there is a surge in sales of new energy vehicles ahead of subsidy reductions, and energy storage is performing well [1]

Core Viewpoint - The lithium battery sector has rebounded strongly after a two-month correction, with significant inflows of capital and a notable increase in stock prices, indicating a potential new upward trend for the industry [1][5]. Market Performance - As of December 23, the lithium battery concept index rose by 2.07%, with a net inflow of 5 billion in main capital, leading all sectors [1]. - The price of lithium carbonate futures surged by 5.96%, reaching 120,000 yuan/ton, marking a return to the high point seen in March 2024 [3]. Supply and Demand Dynamics - The recent price increase in lithium is attributed to a tight supply-demand balance, with domestic lithium carbonate production decreasing to a three-year low [7]. - In November 2025, domestic production of battery-grade lithium carbonate was approximately 66,000 tons, down 0.2% month-on-month, while imports of lithium carbonate fell by 7.6% [7]. - The demand for lithium remains robust, driven by the growth in the electric vehicle market, with November 2025 seeing production and sales of 1.88 million and 1.823 million units respectively, both up by over 20% year-on-year [7][8]. Price Trends and Industry Recovery - The price of battery-grade lithium carbonate has risen from 81,000 yuan/ton at the beginning of November to 92,000 yuan/ton by the end of the month, reflecting a monthly increase of 13.58% [5]. - The overall profitability of the lithium battery industry is recovering, with the net profit of 118 lithium battery concept stocks in the A-share market reaching 117.196 billion yuan in the first three quarters, a year-on-year increase of 26.97% [14]. Key Players and Financial Performance - Leading companies like Ganfeng Lithium reported a significant revenue increase of 44.1% year-on-year, with net profit soaring by 364.02% in the third quarter [15]. - Other companies such as Tianqi Lithium and Guoxuan High-Tech also reported substantial profit increases, indicating a positive trend across the sector [16]. Future Outlook - The global energy storage market is expected to see explosive growth, with predictions of lithium battery shipments reaching 580 GWh in 2025, a year-on-year increase of 65% [9]. - Major institutions are optimistic about the lithium battery sector, with forecasts suggesting a new upward cycle starting in 2026, driven by strong demand and favorable policies [18][19].

Core Viewpoint - The lithium battery sector has rebounded strongly after a two-month correction, with significant capital inflow and a notable increase in lithium prices, indicating a potential new upward trend for the industry [2][6]. Market Performance - As of December 23, the lithium battery concept index rose by 2.07%, with a year-to-date increase of 70.44% and a net capital inflow of 5 billion [3]. - Key sectors such as battery materials and energy-related industries also showed strong performance, with notable stocks like Binhai Energy and Tianqi Lithium seeing gains of over 10% [4]. Price Trends - The price of battery-grade lithium carbonate surged by 5.96% to over 120,000 yuan per ton, marking a significant recovery from earlier lows [4]. - In November 2025, the average price of battery-grade lithium carbonate rose from 81,000 yuan to 92,000 yuan per ton, reflecting a monthly increase of 13.58% [7]. Supply and Demand Dynamics - The lithium supply has contracted due to proactive supply-side reforms, with lithium carbonate production in November 2025 at approximately 66,000 tons, a 0.2% decrease month-on-month [9]. - Demand for lithium remains robust, driven by the growth in the electric vehicle market, with November 2025 seeing production and sales of 1.88 million and 1.823 million new energy vehicles, respectively, both up over 20% year-on-year [10]. Industry Growth - The global energy storage market is experiencing explosive growth, with significant increases in both domestic and international demand for energy storage solutions [11]. - In November 2025, the production of power and other batteries reached 176.3 GWh, a year-on-year increase of 49.2% [11]. Profit Recovery - The lithium battery industry's profitability is recovering rapidly, with a reported net profit of 117.196 billion yuan for 118 lithium battery concept stocks in the first three quarters, a year-on-year increase of 26.97% [18]. - Leading companies like Ganfeng Lithium reported a substantial increase in revenue and net profit, indicating a strong correlation between rising lithium prices and improved financial performance [19][20]. Policy and Institutional Support - Recent policy initiatives are expected to boost the energy storage battery industry, while institutional forecasts predict a significant increase in lithium battery demand through 2026 [21][22]. - Major institutions have raised their price forecasts for lithium, reflecting a consensus on the industry's growth potential [22]. Valuation and Investment Focus - The lithium battery sector is currently in a phase of valuation recovery, with leading companies trading at significantly lower multiples compared to industry growth rates [25]. - Investors are advised to focus on three core areas: leading lithium mining companies, materials firms benefiting from supply-demand balance, and stable battery manufacturers with strong profitability [26][27].

"反内卷"方向亦有亮眼表现，碳酸锂期货主力合约突然暴拉，化工ETF（516020）、有色龙头ETF（159876）场内价格分别收涨3.48%、3.27%。 今日（12月17日）A股三大指数集体走强，沪指涨逾1%，创业板指涨超3%，沪深两市成交额1.81万亿元，环比放量870亿元。 市场为何突然拉升？可能和三方面因素相关：①"牛市骑手"券商股午后持续走强，或有资金在博弈中金公司复牌；②午后多只宽基ETF放量异动，可能有重 要资金进场护盘；③日本央行前副行长发表反对过早加息言论，一定程度上缓解了市场对全球流动性收紧的担忧。 盘面上，光模块CPO强势爆发，新易盛、中际旭创包揽A股吸金榜前二，创业板人工智能ETF（159363）场内价格放量猛涨5%，全天获资金净申购1.62亿 份；同样受益于光模块涨势，硬科技宽基——双创龙头ETF（588330）场内价格豪涨4%，近5日获抄底科技资金净流入8953万元。 | 序号 代码 | | 名称 | 涨跌幅 ▼ | | --- | --- | --- | --- | | 15 | 159363 | 创业板人工智能ETF华宝 | 5.00% | | 2 | 588330 | 双创龙 ...