碳酸锂期货涨跌停板幅度即将调整，广期所回应
Shang Hai Zheng Quan Bao·2026-01-20 09:48

Core Viewpoint - The Dalian Commodity Exchange has announced adjustments to lithium carbonate futures contracts, including an increase in the price fluctuation limit to 11% and changes in margin requirements, aimed at enhancing market stability and managing risks amid increased price volatility [1][2]. Group 1: Market Adjustments - Starting from January 21, 2026, the fluctuation limit for lithium carbonate futures will be adjusted to 11%, with speculative trading margin raised to 13% and hedging margin to 12% [1]. - Prior to this, the exchange implemented several risk control measures, such as increasing trading fees and reducing trading limits, to curb excessive speculation and promote rational trading [1]. Group 2: Price Trends and Market Dynamics - Since the beginning of the year, the main contract for lithium carbonate futures rose from 121,580 yuan/ton to a peak of 174,060 yuan/ton on January 13, followed by a decline over four consecutive trading days [2]. - On January 20, the main contract closed at 160,500 yuan/ton, reflecting an increase of 8.99% [2]. - The adjustments in trading parameters are seen as a "pro-cyclical calibration" to manage risks amid significant price fluctuations [2]. Group 3: Supply and Demand Factors - The recent volatility in lithium carbonate futures is characterized by a mismatch in supply and demand, driven by factors such as reduced export tax rebates and expectations of future cancellations, leading to a surge in short-term demand [3]. - Low inventory levels and production adjustments from various lithium producers have contributed to price fluctuations within the emotional pricing range of 150,000 to 170,000 yuan [3]. Group 4: Regulatory Measures - The Dalian Commodity Exchange will closely monitor the lithium carbonate futures and spot markets, implementing targeted risk control measures as necessary to ensure effective market functionality [3]. - The exchange emphasizes strict regulatory oversight to maintain normal market order and promptly address any violations [3].