长城期货工业硅、碳酸锂期货品种周报-20250421

Group 1: Industrial Silicon Futures Report Industry Investment Rating Not provided Core View The industrial silicon futures price is in a weak downward trend, and the price will continue to be under pressure. It is recommended to wait and see [7][8][11] Summary by Directory - Mid - term Market Analysis: As of April 18, 2025, the industrial silicon market showed a weak consolidation trend. Both futures and spot prices declined. Futures inventory slightly increased, and social inventory decreased. Supply and demand were both weak, and market sentiment was pessimistic. The AI intelligent investment consultation variety diagnosis report of Great Wall Futures showed that the daily line of industrial silicon prices was in a downward channel. It was recommended to wait and see as the price was seeking bottom support and would continue to be pressured [7][8] - Variety Trading Strategy: Last week, it was recommended to wait and see during the stage of shock seeking bottom support. This week, due to the difficult - to - change situation of weak supply and demand, the price will continue to be under pressure, and it is still recommended to wait and see [11] - Related Data Situation: As of April 19, 2024, the SHF cathode copper inventory was 300,045 tons, an increase of 322 tons from the previous week, and was at a relatively high level compared to the past five years. The LME copper inventory was 122,125 tons, and the注销仓单 (unregistered warehouse receipts) ratio was 25.73%, at a relatively low level compared to the past five years. The multi - empty flow was - 8.9 with no obvious inclination, the capital energy was basically stable at 12.0 days, and the multi - empty divergence was 99.4 with high risk of market change [14][16][21] Group 2: Lithium Carbonate Futures Report Industry Investment Rating Not provided Core View The lithium carbonate futures price runs in a weak oscillation. For the lithium carbonate 2507 contract, it is recommended to pay attention to the operating range of 68,000 - 73,000 and consider the large - grid trading strategy [29][30][33] Summary by Directory - Mid - term Market Analysis: As of April 18, 2025, the domestic battery - grade lithium carbonate (99.5%) market price was concentrated at 70,000 - 71,000 yuan/ton, with an average price of 70,500 yuan/ton; the industrial - grade lithium carbonate (99.0%) market price was concentrated at 68,500 - 69,500 yuan/ton, with an average price of 69,000 yuan/ton. The upstream lithium salt plants had a weak buying sentiment and mainly digested inventory. Holders were reluctant to cut prices. Affected by Sino - US tariff issues, downstream demand was uncertain. The supply surplus in the lithium carbonate spot market still existed, and the supply - demand situation did not change significantly. Technically, the AI variety diagnosis report of Great Wall Futures showed that the daily line of lithium carbonate futures was basically in a downward channel. The operating range of lithium carbonate 2507 was 68,000 - 73,000 [29][30] - Variety Trading Strategy: Last week, it was suggested to wait and see as the lithium carbonate 2505 contract might further bottom out. This week, it is recommended to pay attention to the 68,000 - 73,000 operating range of lithium carbonate 2507 and consider the large - grid trading strategy [33] - Related Data Situation: As of April 19, 2024, the SHF electrolytic aluminum inventory was 228,537 tons, a decrease of 3,228 tons from the previous week, and was at a relatively low level compared to the past five years. The LME aluminum inventory was 504,000 tons, and the注销仓单 (unregistered warehouse receipts) ratio was 66.03%, also at a relatively low level compared to the past five years [35][39][41]