Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report The lithium carbonate futures broke through and rose, with the total open interest increasing by 7,201 lots. The smooth progress of the Sino-US tariff negotiation and consultation led to a recovery of market optimism, and the prices of major industrial products rose. Coupled with the news from Zimbabwe that it will ban the export of lithium concentrate from 2027, the lithium carbonate futures led the gains. The spot price continued to rise slightly. The lithium carbonate futures main contract switched to the 09 contract, and after a continuous decline in the second quarter, it stood above the trend line for the first time, with the rebound momentum gradually strengthening. It is expected to continue the strong trend in the short term driven by the sentiment, but the current supply and demand side is still difficult to support the price reversal [6]. 3. Summary According to the Table of Contents 3.1 Market Review and Operation Suggestions - The lithium carbonate futures broke through and rose, with the total open interest increasing by 7,201 lots. The smooth progress of the Sino-US tariff negotiation and consultation led to a recovery of market optimism, and the prices of major industrial products rose. The lithium carbonate futures led the gains. - The spot price continued to rise slightly. The electric carbon rose by 150 to 60,500, the high-grade lithium spodumene ore rose by 45 yuan/ton, and the high-grade lithium mica ore rose by 25 yuan/ton. The stop of the decline and the rise of the ore price supported the lithium carbonate price. The lithium iron phosphate rose by 40, while the prices of the 6-series and 8-series ternary materials continued to decline. - The lithium carbonate futures main contract switched to the 09 contract. After a continuous decline in the second quarter, it stood above the trend line for the first time, with the rebound momentum gradually strengthening. It is expected to continue the strong trend in the short term driven by the sentiment, but the current supply and demand side is still difficult to support the price reversal [6]. 3.2 Industry News - Zhengzhou Sheng Guan Chu Ju Technology Co., Ltd. was established, with a registered capital of 5 million yuan. It is wholly-owned by Shenzhen Yi Chu Energy Technology Co., Ltd., a subsidiary of Ganfeng Lithium [10]. - Zimbabwe will ban the export of lithium concentrate from January 2027 to encourage foreign mining companies to carry out refining operations in the country and promote more domestic processing. Zimbabwe is the largest lithium producer in Africa and banned the export of lithium ore in 2022 [10]. - Jinchuan International's copper production in the three months ended March 31, 2025, increased by about 6.8% year-on-year to 13,914 tons, mainly due to the unstable power supply at the Ruashi mine, which suspended the high-power-consuming SX-EW system and switched to producing copper concentrate. The cobalt production decreased by about 86.6% year-on-year to 71 tons. The copper sales volume decreased by about 9.5% year-on-year to 11,957 tons. Affected by the four-month suspension of cobalt exports by the Congolese government, the sales of copper concentrate at the Ruashi mine were blocked. The company did not sell any cobalt, while 318 tons were sold in the same period in 2024. The company continued to be suspended [11].
碳酸锂期货日报-20250612
Jian Xin Qi Huo·2025-06-12 02:38