碳酸锂数据日报-20250418

Report Industry Investment Rating - No information provided Core View of the Report - In April, the production schedule of lithium carbonate was basically stable, the production schedule of cathode materials increased slightly, and the supply-demand imbalance narrowed. Social inventory continued to accumulate, and the raw material inventory of downstream sectors was at a high level. In the short term, downstream purchases were still mainly for rigid demand. Production still followed long-term contracts and customer-supplied models, and the futures price was expected to fluctuate weakly [2] Summary by Related Catalogs Lithium Compound Prices - The average price of SMM battery-grade lithium carbonate was 71,550 yuan/ton, and the average price of SMM industrial-grade lithium carbonate was 69,650 yuan/ton [1] Futures Contract Prices - The closing price of lithium carbonate 2505 was 70,500 yuan/ton, with a decline of 0.4%; the closing price of lithium carbonate 2506 was 70,420 yuan/ton, with a decline of 0.45%; the closing price of lithium carbonate 2507 was 70,460 yuan/ton, with a decline of 0.45%; the closing price of lithium carbonate 2508 was 71,380 yuan/ton, with a decline of 0.5%; the closing price of lithium carbonate 2509 was 71,620 yuan/ton, with a decline of 0.42% [1] Lithium Ore Prices - The price of lithium spodumene concentrate (CIF China) was 809 US dollars/LT (Li2O: 5%-6%); the price of lithium mica (Li2O: 1.5%-2.0%) was 1,020 yuan/ton, down 10 yuan/ton; the price of lithium mica (Li2O: 2.0%-2.5%) was 1,685 yuan/ton, down 15 yuan/ton; the price of phospho-lithium-aluminum stone (Li2O: 6%-7%) was 6,850 yuan/ton; the price of phospho-lithium-aluminum stone (Li2O: 7%-8%) was 8,100 yuan/ton, down 65 yuan/ton [1][2] Positive Electrode Material Prices - The average price of lithium iron phosphate (power type) was 33,045 yuan/ton; the average price of ternary material 811 (polycrystalline/power type) was 146,820 yuan/ton, down 20 yuan/ton; the average price of ternary material 523 (single crystal/power type) was 118,055 yuan/ton; the average price of ternary material 613 (single crystal/power type) was 124,105 yuan/ton, down 50 yuan/ton [2] Price Differences - The price difference between battery-grade and industrial-grade lithium carbonate was 1,900 yuan/ton; the price difference between battery-grade lithium carbonate and the main contract was 1,090 yuan/ton, down 80 yuan/ton; the price difference between the near-month and the first continuous contract was 80 yuan/ton, up 80 yuan/ton; the price difference between the near-month and the second continuous contract was 40 yuan/ton [2] Inventory - The total inventory (weekly, tons) was 131,605 tons, an increase of 585 tons; the inventory of smelters (weekly, tons) was 52,130 tons, an increase of 398 tons; the inventory of downstream sectors (weekly, tons) was 41,734 tons, an increase of 787 tons; the inventory of other sectors (weekly, tons) was 37,741 tons, a decrease of 600 tons; the registered warehouse receipts (daily, tons) were 29,262 tons, with no change [2] Production Profit - The cash cost of purchasing lithium spodumene concentrate externally was 74,543 yuan/ton, and the profit was -3,990 yuan/ton; the cash cost of purchasing lithium mica concentrate externally was 76,942 yuan/ton, and the profit was -8,164 yuan/ton [2] Industry News - On April 10, it was reported that CATL had passed the Hong Kong Stock Exchange's listing hearing and was approved to list on the Hong Kong Stock Exchange. The company planned to issue H shares not exceeding 5% of the expanded total share capital and granted the overall coordinator a maximum of 15% over-allotment option. It was expected to raise at least $5 billion (about 36.5 billion yuan) through the listing. The funds raised would be used for overseas capacity expansion, international business development, and replenishment of overseas working capital [2] - On April 9, the exploration right of a silver mine in He'an County, Hotan Region, Xinjiang was auctioned. The exploration area was 384.5676 square kilometers, and the auction period was 5 years. The starting price was 88.46 million yuan, and the starting auction yield was 1.4%. After fierce competition, Xinjiang Jijin Moyu Mining Co., Ltd. won the bid at a price of 500.196 million yuan, with a premium rate of 12,906% [2]