Report Industry Investment Rating - No information provided Core Viewpoint - The downstream adopts a "just - in - time procurement + multiple small - batch" strategy, which has weak support for prices. The supply side continues to resume work, suppressing the futures price. The ore price remains basically stable. It is expected that the lithium carbonate futures price will decline in the short term. There are no signs of production cuts at the ore end, and there is a possibility that the lithium carbonate price will form a negative feedback with the ore price again later [3] Summary by Related Catalogs Lithium Compound Prices - The average price of SMM battery - grade lithium carbonate is 60,400 yuan, down 50 yuan; the average price of SMM industrial - grade lithium carbonate is 58,800 yuan, down 50 yuan [1] Lithium Compound Futures - The closing price of lithium carbonate 2507 is 59,820 yuan, with a decline of 0.93%; the closing price of lithium carbonate 2508 is 59,360 yuan, with a decline of 1.56%; the closing price of lithium carbonate 2509 is 58,900 yuan, with a decline of 1.93%; the closing price of lithium carbonate 2510 is 58,860 yuan, with a decline of 1.9%; the closing price of lithium carbonate 2511 is 58,800 yuan, with a decline of 1.93% [1] Lithium Ore Prices - The price of lithium spodumene concentrate (CIF China) (Li₂O: 5.5% - 6%) is 620, down 1; the price of lithium mica (Li₂O: 1.5% - 2.0%) is 685, down 10; the price of lithium mica (Li₂O: 2.0% - 2.5%) is 1210, down 15; the price of phospho - lithium - aluminum stone (Li₂O: 6% - 7%) is 5625; the price of phospho - lithium - aluminum stone (Li₂O: 7% - 8%) is 6540, down 55 [1][2] Price Spreads - The price spread between battery - grade and industrial - grade lithium carbonate is 1600 yuan/ton; the price spread between battery - grade lithium carbonate and the main contract is 1500 yuan, with a change of 1110 yuan; the price spread between the near - month and the first - continuous contract is 460 yuan, with a change of 300 yuan; the price spread between the near - month and the second - continuous contract is 920 yuan, with a change of 560 yuan [2] Inventory - The total inventory (weekly, tons) is 134,901 tons, an increase of 1352 tons; the inventory of smelters (weekly, tons) is 58,625 tons, an increase of 972 tons; the inventory of downstream (weekly, tons) is 40,366 tons, a decrease of 320 tons; the inventory of others (weekly, tons) is 35,910 tons, an increase of 700 tons; the registered warehouse receipts (daily, tons) is 27,793 tons, a decrease of 2164 tons [2] Profit Estimation - The cash cost of externally purchased lithium spodumene concentrate is 60,226 yuan, and the profit is - 668 yuan; the cash cost of externally purchased lithium mica concentrate is 64,891 yuan, and the profit is - 6828 yuan [3] Industry News - Zimbabwe will ban the export of lithium concentrate from 2027 to further promote local processing. As a top lithium - producing country in Africa, Zimbabwe has banned the export of lithium ore since 2022 [3]
碳酸锂数据日报-20250623
Guo Mao Qi Huo·2025-06-23 05:25