Report Summary 1. Report Information - The report focuses on lithium carbonate with a monthly review cycle, written on July 1, 2025 [1] 2. Market Review - In June, affected by supply - demand changes and relevant stimulus policies, the futures price of lithium carbonate first declined and then rose, increasing by 2420 yuan/ton (4.04%) for the whole month. The highest price of the main contract 2509 was 63600 yuan/ton, and the lowest was 58400 yuan/ton. As of June 30, the average spot price of battery - grade lithium carbonate was 61300 yuan/ton, the average spot price of industrial - grade lithium carbonate was 59700 yuan/ton, the futures closed at 62260 yuan/ton, and the basis widened to 960 yuan/ton. The futures price fluctuated frequently, with a downward trend in the first ten - day period due to pessimistic market expectations and a certain rebound in the last ten - day period affected by some news and capital games, but still in a weak pattern [3] 3. Supply - Demand Fundamentals 3.1 Domestic Production - In June, domestic lithium carbonate production remained at a relatively high level. Some mica - based lithium extraction enterprises had slightly fluctuating production due to raw material supply and cost issues, while salt - lake and spodumene - based lithium extraction enterprises maintained stable production. In Jiangxi, some mica - based lithium extraction enterprises reduced production by about 5 - 8% month - on - month due to high lithium mica concentrate prices. In Qinghai salt - lake areas, production increased by about 3 - 5% month - on - month due to the summer production peak. According to SMM data, the total domestic lithium carbonate production in June was about 35,000 tons, a month - on - month increase of about 2% [4] 3.2 Import Situation - In June, the import volume of lithium carbonate declined. Customs data showed that the total import volume was about 19,600 tons, a month - on - month decrease of 20.3%, and the average import price was about 12,309 US dollars/ton. Among them, about 15,700 tons were imported from Chile and about 3400 tons from Argentina. The decrease in imports alleviated the oversupply situation to some extent, but the overall supply was still sufficient [4] 3.3 Power Battery Field - In June, the production and sales data of the new energy vehicle market were good, and the growth rate remained at a certain level [4]
碳酸锂月度报告-20250704
Guo Jin Qi Huo·2025-07-04 05:17