Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core View The production high of lithium carbonate drives the continuation of inventory accumulation, and the lithium price is running weakly [1]. 3. Summary of Relevant Catalogs 3.1 Fundamental Tracking - Futures Market: For the 2507 contract, the closing price was 60,440, down 1,240; the trading volume was 169,708, down 66,489; the open interest was 162,882, down 15,353. For the 2509 contract, the closing price was 60,480, down 1,260; the trading volume was 154,540, down 14,192; the open interest was 238,580, up 22,026. The warehouse receipt volume was 32,383, down 454 [1]. - Basis: The basis of spot - 2507 was 210; the basis of spot - 2509 was 170; the basis of 2507 - 2509 was -40 [1]. - Raw Materials: The price of spodumene concentrate (6%, CIF China) was 631, up 1; the price of lepidolite (2.0% - 2.5%) was 1,225, up 15 [1]. - Lithium Salts: The price of battery - grade lithium carbonate was 60,650, up 150; the price of industrial - grade lithium carbonate was 59,050, up 150; the price of battery - grade lithium hydroxide (micropowder) was 65,700, down 350 [1]. - Related Products in the Industrial Chain: The price of lithium iron phosphate (power type) was 30,475, up 30; the price of ternary material 523 (polycrystalline/consumer type) was 105,530, up 50; the price of hexafluorophosphate lithium was 52,500, unchanged [1]. 3.2 Macro and Industry News - Lithium Carbonate Price: The SMM battery - grade lithium carbonate index price was 60,801 yuan/ton, up 97 yuan/ton from the previous working day. The average price of battery - grade lithium carbonate was 60,650 yuan/ton, up 150 yuan/ton; the average price of industrial - grade lithium carbonate was 59,050 yuan/ton, up 150 yuan/ton [2]. - Inventory: The lithium carbonate industry inventory this week was 133,549 tons, an increase of 1,117 tons from last week. Among them, the upstream inventory was 57,653 tons, the downstream inventory was 40,686 tons, and other inventory was 35,210 tons [2]. - Power Battery Loading: In May, China's power battery loading volume was 57.1GWh, a month - on - month increase of 5.5% and a year - on - year increase of 43.1%. From January to May, the cumulative power battery loading volume was 241.4GWh, a cumulative year - on - year increase of 50.4% [3]. 3.3 Trend Intensity The trend intensity of lithium carbonate is 0, indicating a neutral trend [3].
碳酸锂：产量高位带动累库延续，锂价偏弱运行
Guo Tai Jun An Qi Huo·2025-06-13 01:34