碳酸锂：供给端扰动仍存，宽幅震荡或延续

Report Industry Investment Rating - No relevant information provided Core View of the Report - The supply side of lithium carbonate still faces disturbances, and wide - range fluctuations may continue [1] Summary According to Relevant Catalogs Fundamental Tracking - Futures Data: For the 2509 contract, the closing price was 68,920, up 640 from T - 1, down 11,600 from T - 5, etc.; the volume was 340,670, down 181,179 from T - 1, etc.; the open interest was 216,103, down 13,265 from T - 1, etc. For the 2511 contract, the closing price was 69,240, up 640 from T - 1, etc.; the volume was 337,143, down 41,645 from T - 1, etc.; the open interest was 205,868, up 10,136 from T - 1, etc. The warehouse receipt volume was 6,605, up 1,060 from T - 1 [1]. - Basis Data: The basis of spot - 2509 was 2,430, down 1,290 from T - 1; the basis of 2509 - 2511 was - 320, unchanged from T - 1; the basis of electric carbon - industrial carbon was 2,100, unchanged from T - 1, etc. [1]. - Raw Material Data: The price of spodumene concentrate (6%, CIF China) was 755, down 11 from T - 1; the price of lithium mica (2.0% - 2.5%) was 1,710, down 40 from T - 1 [1]. - Lithium Salt Data: The price of battery - grade lithium carbonate was 71,350, down 650 from T - 1; the price of industrial - grade lithium carbonate was 69,250, down 650 from T - 1; the price of battery - grade lithium hydroxide (micropowder) was 70,820, unchanged from T - 1, etc. [1]. Macro and Industry News - The SMM battery - grade lithium carbonate index price was 71,025 yuan/ton, down 449 yuan/ton from the previous working day; the average price of battery - grade lithium carbonate was 71,350 yuan/ton, down 650 yuan/ton from the previous working day; the average price of industrial - grade lithium carbonate was 69,250 yuan/ton, down 650 yuan/ton from the previous working day [2]. - From January to June 2025, the cumulative domestic battery loading volume was 299.6GWh, with a cumulative year - on - year increase of 47.3%. The top 10 domestic power battery manufacturers in the first half of 2025 were CATL, BYD, CALB, Gotion High - tech, EVE Energy, Sunwoda, Honeycomb Energy, Ruipu Lanjun, Zenith New Energy, and LG New Energy [2][3]. Trend Intensity - The trend intensity of lithium carbonate was 0, with the value range of [-2, 2] for integer values, indicating a neutral trend [3]