碳酸锂：C结构回落，关注08交割情况

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - The report focuses on the fundamentals of lithium carbonate, including price, volume, and position data of different contracts, as well as raw material and lithium salt prices. It also presents macro and industry news, such as the decline in SMM battery - grade lithium carbonate index price and production and shipment data of lithium mines [3][4][5] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Contract Data: The 2509 contract's closing price was 68,280 yuan, down 2,320 yuan compared to T - 1; its trading volume was 521,849 lots, down 271,060 lots; and its open interest was 229,368 lots, down 43,385 lots. The 2511 contract's closing price was 68,600 yuan, down 1,980 yuan compared to T - 1; its trading volume was 378,788 lots, down 78,470 lots; and its open interest was 195,732 lots, up 10,387 lots [3] - Warehouse Receipts: The warehouse receipt volume was 5,545 lots, down 7,586 lots compared to T - 1 [3] - Basis: The basis of spot - 2509 was 3,720 yuan, up 1,370 yuan compared to T - 1; the basis of 2509 - 2511 was - 320 yuan, up 20 yuan compared to T - 1 [3] - Raw Materials: The price of lithium spodumene concentrate (6%, CIF China) was 766 US dollars, down 10 US dollars compared to T - 1; the price of lithium mica (2.0% - 2.5%) was 1,750 yuan, down 25 yuan compared to T - 1 [3] - Lithium Salts: The price of battery - grade lithium carbonate was 72,000 yuan, down 950 yuan compared to T - 1; the price of industrial - grade lithium carbonate was 69,900 yuan, down 950 yuan compared to T - 1 [3] 3.2 Macro and Industry News - Price Decline: The SMM battery - grade lithium carbonate index price was 71,474 yuan/ton, down 1,384 yuan/ton compared to the previous working day. The average price of battery - grade lithium carbonate was 72,000 yuan/ton, down 950 yuan/ton; the average price of industrial - grade lithium carbonate was 69,900 yuan/ton, down 950 yuan/ton [4] - Lithium Mine Production and Shipment: In 2025Q2, Mt Marion produced 124,000 tons of lithium concentrate, a 11% quarter - on - quarter decrease, and shipped 134,000 tons, a 3% quarter - on - quarter decrease. Wodgina produced 166,000 tons, a 32% quarter - on - quarter increase, and shipped 136,000 tons, a 17% quarter - on - quarter increase [5] 3.3 Trend Intensity - The trend intensity of lithium carbonate is 0, indicating a neutral view [5]