碳酸锂数据日报-20250704

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The price of lithium carbonate is mainly supported by downstream purchases, but the production increase of cathode and battery factories in July is small, and the purchasing power mainly comes from traders with limited space. Due to the price rebound, the supply increase in July is relatively large, deepening the oversupply situation and dragging down the price increase. There are no signs of production cuts in the ore segment. It is expected that the downward pressure on the futures price of lithium carbonate will intensify as the purchasing pace slows down [3] Group 3: Summary of Lithium Compound Information - The average price of SMM battery - grade lithium carbonate is 62,100 yuan, with a daily increase of 450 yuan; the average price of SMM industrial - grade lithium carbonate is 60,500 yuan, with a daily increase of 450 yuan [1] - The closing price of lithium carbonate 2507 futures contract is 64,300 yuan, with a daily increase of 1.07%; the closing price of lithium carbonate 2508 is 64,160 yuan, with a daily increase of 0.82%; the closing price of lithium carbonate 2509 is 64,080 yuan, with a daily increase of 0.91%; the closing price of lithium carbonate 2510 is 63,800 yuan, with a daily increase of 0.76%; the closing price of lithium carbonate 2511 is 63,720 yuan, with a daily increase of 0.92% [1] Group 4: Summary of Lithium Ore Information - The average price of lithium spodumene concentrate (CIF China) is 652 yuan, with a daily increase of 20 yuan; the average price of lithium mica (Li20: 1.5% - 2.0%) is 765 yuan, with a daily increase of 25 yuan; the average price of lithium mica (Li20: 2.0% - 2.5%) is 1315 yuan, with a daily increase of 40 yuan; the average price of phospho - lithium - aluminum stone (Li20: 6% - 7%) is 4325 yuan, with a daily increase of 50 yuan; the average price of phospho - lithium - aluminum stone (Li20: 7% - 8%) is 5150 yuan, with a daily increase of 50 yuan [1][2] Group 5: Summary of Cathode Material Information - The average price of lithium iron phosphate (power type) is 30,660 yuan, with a daily increase of 110 yuan; the average price of ternary material 811 (polycrystalline/power type) is 142,520 yuan; the average price of ternary material 523 (single - crystal/power type) is 114,505 yuan, with a daily increase of 50 yuan; the average price of ternary material 613 (single - crystal/power type) is 120,165 yuan, with no change [2] Group 6: Summary of Price Difference Information - The price difference between battery - grade and industrial - grade lithium carbonate is 1600 yuan; the price difference between battery - grade lithium carbonate and the main contract is - 1980 yuan, with a change of 330 yuan; the price difference between the near - month and the first - continuous contract is 80 yuan, with a change of - 20 yuan; the price difference between the near - month and the second - continuous contract is 360 yuan [2] Group 7: Summary of Inventory Information - The total inventory (weekly, tons) is 138,347 tons, with an increase of 1510 tons; the inventory of smelters (weekly, tons) is 58,890 tons, with a decrease of 142 tons; the inventory of downstream (weekly, tons) is 40,497 tons, with a decrease of 138 tons; the inventory of others (weekly, tons) is 38,960 tons, with an increase of 1790 tons; the registered warehouse receipts (daily, tons) is 22,880 tons, with a decrease of 300 tons [2] Group 8: Summary of Profit Estimation Information - The cash cost of purchasing lithium spodumene concentrate is 61,596 yuan, and the profit is - 355 yuan; the cash cost of purchasing lithium mica concentrate is 66,176 yuan, and the profit is - 6447 yuan [3] Group 9: Summary of Industry Policy Information - Zimbabwe will ban the export of lithium concentrate from 2027 to further promote local processing. As Africa's top lithium producer, Zimbabwe has banned the export of lithium ore since 2022 to encourage miners to process more domestically [3]