碳酸锂日评：国内碳酸锂7月供给预期偏松，国内碳酸锂社会库存量环比增加-20250707

1. Industry Investment Rating - No industry investment rating information is provided in the reports. 2. Core View - The supply of domestic lithium carbonate in July 2025 is expected to be loose, and the domestic social inventory of lithium carbonate has increased month - on - month. The production and inventory of various lithium - related products and other chemical products have different trends, and it is recommended to pay attention to the support level around 58,000 - 62,000 and the pressure level around 66,000 - 70,000 [1][3][5] 3. Summary by Related Content 3.1 Lithium Carbonate Futures Market - Price: On July 4, 2025, the closing prices of near - month, continuous - one, continuous - two, and continuous - three contracts of lithium carbonate futures all decreased compared to the previous day, with decreases of 600, 660, 620, and 620 yuan/ton respectively. The closing price of the active contract decreased by 800 yuan/ton [1] - Volume and Open Interest: The trading volume was 347,729 lots, a decrease of 73,238 lots from the previous day; the open interest was 325,288 lots, a decrease of 8,769 lots from the previous day [1] - Inventory: The inventory was 21,036 tons, a decrease of 1,844 tons from the previous day [1] - Spreads and Basis: The spread between near - month and continuous - one contracts increased by 60 yuan/ton; the spread between continuous - one and continuous - two contracts decreased by 40 yuan/ton; the spread between continuous - two and continuous - three contracts remained unchanged. The basis increased by 1,000 yuan/ton [1] 3.2 Lithium Ore and Related Product Prices - Lithium Ore: The average price of lithium spodumene concentrate (6%, CIF China) was 653 US dollars/ton, an increase of 1 US dollar/ton from the previous day; the average prices of various types of lithium mica also increased to varying degrees [1] - Lithium Compounds: The average price of battery - grade lithium carbonate increased by 200 yuan/ton; the average price of industrial - grade lithium carbonate increased by 200 yuan/ton; the average price of battery - grade lithium hydroxide decreased by 50 yuan/ton; the average price of industrial - grade lithium hydroxide decreased by 50 yuan/ton [1] - Other Battery Materials: The prices of ternary precursors, ternary materials, lithium iron phosphate, cobalt acid lithium, and other materials also had different changes [1] 3.3 Company News - Codal Mining: It signed a purchase agreement for the expansion of the DMS processing plant's spodumene concentrate in the Bougouni lithium project with Hainan Mining. The DMS processing plant has produced over 1,000 tons of spodumene concentrate and is working on obtaining export licenses. The first - phase project is expected to produce 100,000 - 120,000 tons of spodumene concentrate annually [2] - Anhui Anwa New Energy: Its self - developed world's first 3.0 - level new solid - state battery production line's first batch of engineering samples was successfully launched. The first - generation product has an energy density of over 300Wh/kg, and the company plans to launch the third - generation all - solid - state battery with an energy density exceeding 500Wh/kg in 2027 [2] - Ganfeng Lithium: Its Mali Gooldariness lithium project's first - phase with an annual capacity of 0.6 million tons of fine ore has been put into production [3] - Tianqi Lithium: Its 35,000 - ton wet - process project in Jianglin City may be put into production in June 2026, and the total capacity will reach 215,000 tons per year [3] 3.4 Supply and Demand Situation - Supply: The domestic lithium carbonate production in July may increase month - on - month, but the import volume has decreased. The production of lithium hydroxide may decrease in October. The production of lithium iron phosphate and other products may increase in July [3][5] - Demand: The demand for lithium salts from downstream cathode material factories is mainly based on rigid procurement. The production and sales of new energy vehicles in July may increase month - on - month [5]