碳酸锂数据日报-20250424

Group 1: Report Industry Investment Rating - No information provided Group 2: Report's Core View - The production of lithium carbonate in April was basically stable, the production of cathode materials increased slightly, and the supply - demand imbalance narrowed. Social inventories continued to accumulate, and the raw material inventory in the downstream link was at a high level. In the short term, downstream procurement still followed the long - order and customer - supply models, and the futures price was expected to fluctuate weakly [3] Group 3: Summary by Related Catalogs Lithium Compounds - SMM battery - grade lithium carbonate had an average price of 69,950 yuan/ton, down 450 yuan; SMM industrial - grade lithium carbonate had an average price of 68,200 yuan/ton, down 450 yuan [1] - The futures contracts of lithium carbonate (2505, 2506, 2507, 2508, 2509) all showed price increases, with increases of 0.96%, 1.11%, 1.14%, 0.84%, and 0.78% respectively [1] Lithium Ore - Lithium spodumene concentrate (CIF China, Li20: 5.5% - 6%) had an average price of 795 yuan/ton, down 5 yuan [1] - Lithium mica (Li20: 1.5% - 2.0%) had an average price of 950 yuan/ton, down 30 yuan; lithium mica (Li20: 2.0% - 2.5%) had an average price of 1610 yuan/ton, down 30 yuan; phospho - lithium - aluminum stone (Li20: 6% - 7%) had an average price of 6700 yuan/ton; phospho - lithium - aluminum stone (Li20: 7% - 8%) had an average price of 7875 yuan/ton, down 75 yuan [2] Cathode Materials - The average price of lithium iron phosphate (power type) was 32,650 yuan/ton, down 125 yuan; the average price of ternary material 811 (polycrystalline/power type) was 146,650 yuan/ton, down 50 yuan; the average price of ternary material 523 (single - crystal/power type) was 117,685 yuan/ton, down 100 yuan; the average price of ternary material 613 (single - crystal/power type) was 123,955 yuan/ton, down 50 yuan [2] Price Differences - The price difference between battery - grade and industrial - grade lithium carbonate was 1750 yuan; the price difference between battery - grade lithium carbonate and the main contract was 970 yuan, down 1590 yuan; the price difference between the near - month and the first - continuous contract was 60 yuan, down 40 yuan; the price difference between the near - month and the second - continuous contract was 80 yuan, down 80 yuan [2] Inventory - The total inventory (weekly, tons) was 131,605 tons, an increase of 585 tons; the smelter inventory (weekly, tons) was 52,130 tons, an increase of 398 tons; the downstream inventory (weekly, tons) was 41,734 tons, an increase of 787 tons; other inventory (weekly, tons) was 37,741 tons, a decrease of 600 tons; the registered warehouse receipts (daily, tons) were 31,735 tons, an increase of 350 tons [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate externally was 73,659 yuan, and the profit was - 4669 yuan; the cash cost of purchasing lithium mica concentrate externally was 75,209 yuan, and the profit was - 7893 yuan [3] Industry News - Shandong's 120,000 - ton lithium iron phosphate project was postponed. The 120,000 - ton lithium iron phosphate project of WANRUN NEW ENERGY was postponed to December 2025, and the Lubei WANRUN project had basically completed construction and was in the process of production debugging [3]