碳酸锂期货主力合约月内已涨近3成，广期所发布风控措施

Core Viewpoint - The lithium carbonate futures market has experienced a significant price increase, driven by supply-side disruptions and strong downstream demand, leading to heightened market attention [1][2] Group 1: Price Movement - On December 24, the main contract for lithium carbonate futures surged past 120,000 yuan/ton, with an intraday increase exceeding 7%. The contract closed at 123,520 yuan/ton, maintaining a high level [1] - Since December, the price of the contract has risen approximately 29% from around 90,000 yuan/ton [1] Group 2: Supply and Demand Dynamics - The price increase is attributed to expectations of supply constraints due to the planned cancellation of expired mining rights in Yichun, Jiangxi, and concerns over potential delays in the resumption of large mines [1] - Downstream demand is supported by pre-holiday stockpiling by battery material manufacturers and robust orders in the energy storage sector, contributing to a positive market sentiment and ongoing inventory depletion [1] Group 3: Regulatory Response - In response to the rapid price increase and heightened market sentiment, the Guangzhou Futures Exchange announced risk control measures effective December 26, including a daily opening limit of 400 contracts for near-month contracts and an adjustment of the minimum opening order quantity to 5 contracts [2] - While some institutions acknowledge the long-term supply-demand balance, they also caution against short-term price correction risks, noting that current price increases may already reflect future supply expectations [2]