Report Summary 1. Industry Investment Rating - No investment rating information is provided in the report. 2. Core View - The price increase is mainly due to supply - side disturbances, which boost market sentiment but have limited impact on the fundamentals. In the short term, the market sentiment is strong, and rumors support the futures price. However, the pricing weight of fundamental contradictions and hedging pressure may increase, and industry players can consider hedging at high prices. Also, the basis of the spot to the 08 contract has been repaired, which will stimulate warrant production and reduce the risk of a short squeeze [2]. 3. Summary by Related Catalogs Lithium Compounds - SMM battery - grade lithium carbonate has an average price of 68,000 with a rise of 1,350; SMM industrial - grade lithium carbonate has an average price of 66,350 with a rise of 1,300 [1]. Lithium Ore - Lithium spodumene concentrate (CIF China) has an average price of 730 with a rise of 19; lithium mica (Li20: 1.5% - 2.0%) has an average price of 990 with a rise of 45; lithium mica (Li20: 6% - 7%) has an average price of 1545 with a rise of 40; lithiophilite (Li20: 2.0% - 2.5%) has an average price of 5175 with a rise of 225; lithiophilite (Li20: 7% - 8%) has an average price with a rise of 320; phospho - lithiophilite has an average price of 6075 with a rise of 250 [1][2]. Lithium Futures Contracts - The closing prices and price increases of lithium carbonate futures contracts 2508, 2509, 2510, 2511, and 2512 are 71,260 (2.36%), 71,280 (2.53%), 70,520 (2.5%), 70,200 (2.69%), and 70,140 (2.57%) respectively [1]. Cathode Materials - The average price of lithium iron phosphate (power - type) is 32,075; the average prices of ternary materials 811 (polycrystalline/power - type), 613 (single - crystal/power - type), 523 (single - crystal/power - type) are 142,650, 120,175, and 115,195 respectively [2]. Inventory and Other Data - The weekly inventory of downstream is 41,271 tons with an increase of 506 tons; the weekly inventory of others is 43,310 tons with an increase of 1,880 tons; the daily registered warrant is 9,969 tons with a decrease of 270 tons; the weekly inventory of smelters is 58,039 tons with a decrease of 559 tons [2]. Profit Estimation - The cash cost of purchasing spodumene concentrate is 66,602; the profit of purchasing spodumene concentrate is not given; the cash cost of purchasing lithium mica concentrate is 71,484; the profit of purchasing lithium mica concentrate is - 6,008 [2]. Policy and Industry News - The Ministry of Industry and Information Technology will introduce a stable growth work plan for ten key industries including steel, non - ferrous metals, and petrochemicals, and will promote key industries to adjust the structure, optimize the supply, and eliminate backward production capacity. The Fourth Central Steering Group carried out a special research and discussion on rectifying the irrational competition in the new energy vehicle industry [2].
碳酸锂数据日报-20250722
Guo Mao Qi Huo·2025-07-22 09:53