Group 1: Industry Investment Rating - No relevant information provided Group 2: Core View - Due to the weak fundamentals of lithium carbonate remaining unimproved, with spot - end transactions mainly between traders and downstream enterprises and lithium salt manufacturers mainly holding prices, in the short term, the lithium carbonate futures price shows a rebound after a long - term decline. However, the oversupply pattern remains unchanged, the visible inventory continues to accumulate, the downstream purchasing willingness has not increased, the ore - end price continues to decline, and the lithium carbonate price remains weak [3] Group 3: Summary by Related Catalogs Lithium Compounds - SMM battery - grade lithium carbonate average price is 64,700 yuan, up 100 yuan; SMM industrial - grade lithium carbonate average price is 63,050 yuan, up 100 yuan [1] Lithium Futures Contracts - Carbonate lithium 2505 closed at 64,780 yuan, up 2.5%; carbonate lithium 2506 at 65,140 yuan, up 2.65%; carbonate lithium 2507 at 65,200 yuan, up 3%; carbonate lithium 2508 at 66,120 yuan, up 2.64%; carbonate lithium 2509 at 66,280 yuan, up 2.57% [1] Lithium Ore - Lithium spodumene concentrate (CIF China) is 713 yuan, down 1 yuan; lithium mica (Li20: 1.5% - 2.0%) is 760 yuan; lithium mica (Li20: 2.0% - 2.5%) is 1360 yuan; phospho - lithium - aluminum stone (Li20: 6% - 7%) is 6300 yuan; phospho - lithium - aluminum stone (Li20: 7% - 8%) is 7340 yuan [1][2] Cathode Materials - Lithium iron phosphate (power type) average price is 31,445 yuan, up 50 yuan; ternary material 811 (polycrystalline/power type) is 146,070 yuan, down 10 yuan; ternary material 523 (single - crystal/power type) is 116,375 yuan, up 20 yuan; ternary material 613 (single - crystal/power type) is 123,325 yuan, down 10 yuan [2] Price Spreads - The price spread between battery - grade and industrial - grade lithium carbonate is 1650 yuan; the price spread between battery - grade lithium carbonate and the main contract is - 500 yuan, down 1880 yuan; the price spread between the near - month and the first - continuous contract is - 60 yuan, down 80 yuan; the price spread between the near - month and the second - continuous contract is - 980 yuan, up 180 yuan [2] Inventory - Total inventory (weekly, tons) is 131,569 tons, down 464 tons; smelter inventory (weekly, tons) is 54,852 tons, up 3819 tons; downstream inventory (weekly, tons) is 42,156 tons, down 3013 tons; other inventory (weekly, tons) is 34,561 tons, down 1270 tons; registered warehouse receipts (daily, tons) is 36,716 tons, up 272 tons [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate externally is 68,000 yuan, and the profit is - 4192 yuan; the cash cost of purchasing lithium mica concentrate externally and the profit are not clearly presented in a complete form [3] Company News - On May 12, CATL disclosed its H - share prospectus, H - share issue price cap, H - share Hong Kong public offering, etc., and is expected to be listed on the main board of the Hong Kong Stock Exchange on May 20. The issue price range cap of CATL's H - share IPO is HK$263 per share, and a total of 118 million shares are planned to be issued. With the full exercise of relevant rights, the estimated total fundraising is US$4 - 5 billion (about RMB 28.95 - 36.19 billion) [3]
碳酸锂数据日报-20250515
Guo Mao Qi Huo·2025-05-15 13:24