Report Industry Investment Rating - No information provided Report's Core View - The main contract price of lithium carbonate fell below 60,000 yuan/ton. Fundamentally, weekly supply decreased, demand remained stable, and there were signs of slight destocking. Downstream buyers were reluctant to accept current prices, resulting in low spot trading volumes, and prices continued to decline. Short - term futures prices are expected to be weak [3] Summary by Category Lithium Compounds - SMM battery - grade lithium carbonate average price was 62,500 yuan/ton, down 550 yuan/ton; SMM industrial - grade lithium carbonate average price was 60,900 yuan/ton, down 550 yuan/ton [1] Lithium Futures - The closing prices and their percentage declines of lithium carbonate futures contracts: 2506 was 60,260 yuan/ton, down 1.98%; 2507 was 61,120 yuan/ton, down 2.31%; 2508 was 61,300 yuan/ton, down 2.3%; 2509 was 61,120 yuan/ton, down 2.33%; 2510 was 61,460 yuan/ton, down 2.41% [1] Lithium Ore - Lithium spodumene concentrate (CIF China, Li2O: 5.5% - 6%) was 88 yuan, down 2 yuan; lithium mica (Li2O: 1.5% - 2.0%) was 700 yuan, down 5 yuan; lithium mica (Li2O: 2.0% - 2.5%) was 1260 yuan, down 20 yuan; phospho - lithium - aluminum stone (Li2O: 6% - 7%) was 5975 yuan; phospho - lithium - aluminum stone (Li2O: 7% - 8%) was 6975 yuan, down 75 yuan [1][2] Cathode Materials - The average prices and their declines of cathode materials: lithium iron phosphate (power type) was 30,900 yuan/ton, down 130 yuan/ton; ternary material 811 (polycrystalline/power type) was 145,460 yuan/ton, down 90 yuan/ton; ternary material 523 (single - crystal/power type) was 115,645 yuan/ton, down 100 yuan/ton; ternary material 613 (single - crystal/power type) was 122,755 yuan/ton, down 80 yuan/ton [2] Price Spreads - The current values and changes of price spreads: the spread between battery - grade and industrial - grade lithium carbonate was 1600 yuan/ton, with no change; the spread between battery - grade lithium carbonate and the main contract was 2400 yuan/ton, up 310 yuan; the spread between the near - month and the first - continuous contract was 160 yuan, up 140 yuan; the spread between the near - month and the second - continuous contract was - 860 yuan, up 260 yuan [2] Inventory - The current values and changes of inventory: total inventory (weekly, tons) was 131,779 tons, down 141 tons; smelter inventory (weekly, tons) was 57,015 tons, up 493 tons; downstream inventory (weekly, tons) was 40,864 tons, down 564 tons; other inventory (weekly, tons) was 33,900 tons, down 70 tons; registered warehouse receipts (daily, tons) was 34,979 tons, down 794 tons [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate externally was 66,310 yuan, with a profit of - 4673 yuan; the cash cost of purchasing lithium mica concentrate externally was 66,952 yuan, with a profit of - 6831 yuan [3] Industry News - South Africa launched a key minerals development strategy. The South African government defined platinum, manganese ore, iron ore, coal, and chromium ore as high - key minerals; copper, cobalt, lithium, graphite, nickel, titanium, phosphate, fluorite, aluminum, uranium, and aluminum as medium - key minerals [3]
碳酸锂数据日报-20250527
Guo Mao Qi Huo·2025-05-27 05:43