碳酸锂期货日报-20250801

Group 1: Report Information - Report Name: Carbonate Lithium Futures Daily Report [1] - Date: August 1, 2025 [2] - Researcher: Zhang Ping, Yu Feifei, Peng Jinglin [3][4] Group 2: Investment Rating - No investment rating information provided Group 3: Core View - The carbonate lithium futures continued to decline, hitting a low of 66,720. The spot price was relatively resistant to decline, with the electric carbon price dropping by 950 to 72,000. The spot price remained at a premium to the futures price. The downstream market was still cautious, and the actual trading volume did not increase significantly. The ore price followed the decline, and the production profit of salt factories using spodumene decreased, while the loss of those using mica increased. The supply was expected to remain high in the short term, and the fundamentals were not supportive of the price. The futures price mainly followed the market's trading of the anti - involution logic, and the downside space was expected to be limited due to the spot price being higher than the futures price [11] Group 4: Market Review and Operation Suggestions - Futures Trend: The carbonate lithium futures continued to decline and closed with a long lower - shadow doji. The lowest price of the main contract reached 66,720 [11] - Spot Market: The electric carbon price dropped by 950 to 72,000, and the spot price was at a premium to the futures price. The downstream inquiry activity increased, but the actual trading volume did not increase proportionally, and the downstream mainly made rigid - demand purchases [11] - Ore Price: The Australian ore price dropped by 17.5 to 762.5 US dollars per ton, and the mica price dropped by 25 to 1,750 yuan per ton. The production profit of salt factories using spodumene decreased to 2,075, and the loss of those using mica expanded to 7,136 [11] - Supply Outlook: The production of carbonate lithium from spodumene was expected to increase further, while the production from mica needed to monitor the shutdown situation in Jiangxi. The supply was expected to remain high in the short term [11] Group 5: Industry News - Ningde Times: In Q2 2025, its combined sales of power and energy storage batteries were close to 150 GWh, a year - on - year increase of over 30%. The energy storage accounted for about 20%. It had over 10 years of R & D experience in solid - state batteries and had an industry - leading R & D team. The scientific problems in the solid - state battery industry were basically solved, but commercialization was still some way off [14] - South Korean Electronics Company and Tesla: A South Korean electronics company reached a 4.3 - billion - dollar supply agreement with Tesla to supply LFP energy storage batteries from 2027 for a three - year period with an option to extend to seven years. The batteries will be produced in a Michigan factory, helping Tesla reduce its dependence on Chinese - imported batteries. The South Korean company planned to increase its North American energy storage battery production capacity to 30 GWh by 2026 [14][15]