Workflow
碳酸锂数据日报-20250725

Report Industry Investment Rating - No information provided Core View of the Report - Affected by rumors from the supply side of Jiangxi mines, the price of lithium carbonate has rapidly soared. At the current price level, the acceptance of the spot market by downstream buyers is low, resulting in a small actual trading volume. In the short term, market sentiment is strong with frequent speculations, and the pricing weight of fundamental contradictions and hedging pressure may increase. Industrial players can consider hedging at high prices [3] Summary by Relevant Catalogs Lithium Compounds - The average price of SMM battery - grade lithium carbonate is 70,550 yuan/ton, with a daily increase of 100 yuan; the average price of SMM industrial - grade lithium carbonate is 68,900 yuan/ton, with a daily increase of 100 yuan [1] - The closing prices and daily increases of lithium carbonate futures contracts are as follows: Li2508 at 76,500 yuan/ton with a 5.84% increase; Li2509 at 76,680 yuan/ton with a 7.21% increase; Li2510 at 75,460 yuan/ton with a 6.1% increase; Li2511 at 75,000 yuan/ton with a 6.17% increase; Li2512 at 74,680 yuan/ton with a 6.35% increase [1] Lithium Ore - The price of lithium spodumene concentrate (CIF China) (Li2O: 5.5% - 6%) is 764 yuan, with a daily increase of 14 yuan; the price of lithium mica (Li2O: 1.5% - 2.0%) is 1080 yuan, with a daily increase of 40 yuan; the price of lithium mica (Li2O: 2.0% - 2.5%) is 1655 yuan, with a daily increase of 50 yuan; the price of amblygonite (Li2O: 6% - 7%) is 5845 yuan; the price of amblygonite (Li2O: 7% - 8%) is 6800 yuan, with a daily increase of 475 yuan [1][2] Cathode Materials - The average price of lithium iron phosphate (power type) is 32,690 yuan/ton, with a daily increase of 25 yuan; the average price of ternary material 811 (polycrystalline/power type) is 143,450 yuan/ton, with a daily increase of 300 yuan; the average price of ternary material 523 (single - crystal/power type) is 115,945 yuan/ton, with a daily increase of 100 yuan; the average price of ternary material 613 (single - crystal/power type) is 120,875 yuan/ton, with a daily increase of 200 yuan [2] Price Spreads - The difference between battery - grade and industrial - grade lithium carbonate is 1650 yuan/ton, with no change; the difference between battery - grade lithium carbonate and the main contract is - 6130 yuan/ton, a decrease of 7200 yuan; the difference between the near - month and the first - continuous contract is - 180 yuan/ton, a decrease of 120 yuan; the difference between the near - month and the second - continuous contract is 1040 yuan/ton, an increase of 520 yuan [2] Inventory - The total inventory (weekly, tons) is 143,170 tons, an increase of 550 tons; the inventory of smelters (weekly, tons) is 55,385 tons, a decrease of 2654 tons; the inventory of downstream (weekly, tons) is 42,815 tons, an increase of 1544 tons; the inventory of others (weekly, tons) is 44,970 tons, an increase of 1660 tons; the registered warehouse receipts (daily, tons) is 11,654 tons, an increase of 900 tons [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate is 68,690 yuan, and the profit is 910 yuan; the cash cost of purchasing lithium mica concentrate is 74,022 yuan, and the profit is - 6048 yuan [3] Company News - Jiangte Motor's subsidiary, Yichun Yinli, plans to conduct equipment maintenance on its production line on July 25, 2025, with an estimated maintenance time of about 26 days [3]