ZANGGE MINING(SZ:000408) Xin Lang Cai Jing·2025-07-24 11:39Group 1 - Lithium carbonate prices have recently rebounded, with futures contracts experiencing an 8% increase on July 24, marking the first significant rise of the year [1] - The average price of battery-grade lithium carbonate reached 70,150 yuan/ton on July 24, up 14.9% from the beginning of the month [1] - The increase in lithium carbonate prices has led to a 10% rise in downstream battery cell product prices [1] Group 2 - The recent price surge is largely driven by market sentiment rather than fundamental factors, influenced by expectations surrounding "anti-involution" policies in the lithium battery industry [2][4] - The "anti-involution" initiative aims to shift competition focus from price wars to quality and innovation, although no substantial policies have been implemented yet [2] - Supply-side uncertainties, such as stricter compliance checks on mining rights, have also contributed to the price increase [2][3] Group 3 - The lithium industry is currently experiencing its second major price fluctuation cycle since 2020, with prices previously peaking at nearly 600,000 yuan/ton in 2022 [4] - Despite the recent price recovery, the fundamental supply-demand imbalance remains, with expectations of continued oversupply in the second half of the year [4][5] - Future price fluctuations for lithium carbonate are projected to remain within the range of 56,000 to 72,000 yuan/ton by the second half of 2025 [5]