碳酸锂数据日报-20250523

1. Report Industry Investment Rating - No investment rating information is provided in the report 2. Core Viewpoints - The main contract of lithium rose today mainly due to the reversal after a long - term decline, and there is no obvious improvement in fundamentals. Fundamentally, both supply and demand decreased on a weekly basis. Downstream has a low willingness to accept current prices. The price of the mining end continues to decline, breaking through the 62,000 yuan/ton mark, and market sentiment is sluggish. It is expected that the futures price will be weak in the short term [3] 3. Summary According to Relevant Catalogs Lithium Compound Prices - The average price of SMM battery - grade lithium carbonate is 63,050 yuan with no change, and the average price of SMM industrial - grade lithium carbonate is 61,450 yuan with no change [1] Futures Contract Prices - The closing price of lithium carbonate 2506 is 62,160 yuan with a 1.57% increase; lithium carbonate 2507 is 62,140 yuan with a 1.67% increase; lithium carbonate 2508 is 63,200 yuan with a 1.61% increase; lithium carbonate 2509 is 63,320 yuan with a 1.47% increase; lithium carbonate 2510 is 63,580 yuan with a 1.57% increase [1] Lithium Ore Prices - The price of lithium spodumene concentrate (CIF China) is 690 yuan with no change. The price of lithium mica (Li20: 1.5% - 2.0%) is 705 yuan, lithium mica (Li20: 2.0% - 2.5%) is 1280 yuan, phosphorus lithium aluminum stone (Li20: 6% - 7%) is 6025 yuan, and phosphorus lithium aluminum stone (Li20: 7% - 8%) is 7050 yuan [1][2] Cathode Material Prices - The average price of lithium iron phosphate (power type) is 31,030 yuan. The average price of ternary material 811 (polycrystalline/power type) is 145,610 yuan with a 60 - yuan decrease; ternary material 523 (single - crystal/power type) is 115,745 yuan with a 20 - yuan decrease; ternary material 613 (single - crystal/power type) is 122,885 yuan with a 60 - yuan decrease [2] Price Spreads - The spread between battery - grade and industrial - grade lithium carbonate is 1600 yuan with no change; the spread between battery - grade lithium carbonate and the main contract is 910 yuan with a 1040 - yuan decrease; the spread between the near - month and the first - continuous contract is 20 yuan with a 60 - yuan decrease; the spread between the near - month and the second - continuous contract is - 1040 yuan with a 20 - yuan increase [2] Inventory - The total inventory (weekly, tons) is 131,779 tons with a 141 - ton decrease; the smelter inventory (weekly, tons) is 57,015 tons with a 493 - ton increase; the downstream inventory (weekly, tons) is 40,864 tons with a 564 - ton decrease; other inventory (weekly, tons) is 33,900 tons with a 70 - ton decrease; the registered warehouse receipts (daily, tons) is 35,863 tons with a 530 - ton decrease [2] Profit Estimation - The cash cost of externally purchased lithium spodumene concentrate is 66,482 yuan, and the profit is - 4301 yuan. The cash cost of externally purchased lithium mica concentrate is 67,414 yuan, and the profit is - 6754 yuan [3] Industry News - South Africa launched a key mineral development strategy. The South African government's strategy identifies minerals such as platinum, manganese ore, iron ore, coal, chromium, and rare earths as medium - to - high - critical minerals; and minerals such as copper, cobalt, lithium, graphite, nickel, titanium, phosphate, fluorite, aluminum, uranium, and aluminum as medium - critical minerals [3]