动力电池行业周报：财政部提前下达汽车行业补贴，支持新能源汽车产业发展

Investment Rating - The report maintains a "Recommended" investment rating for the industry [4]. Core Insights - The report highlights strong support for the growth of the new energy vehicle (NEV) industry due to favorable government policies, including a total subsidy of 9.89 billion yuan for the automotive sector [2][111]. - The NEV market is experiencing rapid growth, with production and sales in October 2024 reaching 1.463 million and 1.43 million units, respectively, marking year-on-year increases of 48% and 49.6% [2][107]. - The overall industry outlook remains positive, with a focus on monitoring upstream raw material prices and monthly sales trends [2]. Summary by Sections 1. Industry Weekly Data Tracking 1.1. Upstream Materials - The average price of industrial-grade lithium carbonate is 78,500 yuan/ton, down 1.26% from the previous week, while battery-grade lithium carbonate averages 81,000 yuan/ton, down 1.22% [56][57]. - Lithium hydroxide prices remain stable, with battery-grade prices averaging 68,500 yuan/ton [63][64]. 1.2. Midstream Materials - Prices for ternary materials are stable, with 523 single crystal materials priced at 109,200 yuan/ton and 622 polycrystalline materials at 107,500 yuan/ton [69]. - The reference price for anode materials is 32,378 yuan/ton, remaining unchanged from the previous week [78]. 1.3. Downstream Cells - The average price for square power cells (ternary) is 0.46 yuan/Wh, while for lithium iron phosphate cells, it is 0.37 yuan/Wh, both stable compared to the previous week [102]. 2. Recent News Events - The Ministry of Finance has announced early distribution of 2025 energy-saving and emission reduction subsidy funds, totaling 9.89 billion yuan, to support NEV development [110][111]. - The list of candidates for the exploration rights of a super-large lithium mine in Sichuan has been released, indicating potential acceleration in lithium mining development [112].