新能源及有色金属日报：矿端扰动仍未结束，碳酸锂盘面宽幅震荡-20250805

Report Industry Investment Rating - No industry investment rating information is provided in the report. Core View of the Report - The current core of the lithium carbonate game is still the disruption at the mining end. With the lithium mining approval in Jiangxi still undetermined and the consumer end showing a month - on - month increase in August, the market is expected to fluctuate widely. Attention should be paid to the progress of lithium mining approval, as significant production cuts or shutdowns could change the short - term supply - demand pattern and drive up prices [3]. Summary by Related Catalogs Market Analysis - On August 5, 2025, the lithium carbonate main contract 2509 opened at 69,280 yuan/ton and closed at 68,920 yuan/ton, with a 0.09% change from the previous day's settlement price. The trading volume was 247,898 lots, and the open interest was 207,770 lots, down from 216,103 lots the previous day. The current basis is 1,910 yuan/ton. The number of lithium carbonate warehouse receipts was 12,603 lots, a change of 5,998 lots from the previous trading day [1]. - According to SMM data, the price of battery - grade lithium carbonate is 69,700 - 73,000 yuan/ton, and industrial - grade lithium carbonate is 68,650 - 69,850 yuan/ton, both unchanged from the previous day. The price of 6% lithium concentrate is 745 US dollars/ton, also unchanged. Downstream buyers are still观望 and mainly make rigid - demand purchases [1]. - In July 2025, China's lithium hexafluorophosphate production increased by about 3.9% month - on - month and about 32.9% year - on - year. It is expected to increase by about 6.4% month - on - month and about 26% year - on - year in August [1]. - In July 2025, China's electrolyte production increased by 1.96% month - on - month and about 48.8% year - on - year. It is expected to increase by about 4.1% month - on - month and about 40.0% year - on - year in August [2]. Strategy - The current core of the lithium carbonate game is the disruption at the mining end, including lithium mining approval in Jiangxi and some disruptions in African mines. With the consumer end showing a month - on - month increase in August, the market is expected to fluctuate widely. Attention should be paid to the progress of lithium mining approval, as significant production cuts or shutdowns could change the short - term supply - demand pattern and drive up prices [3]. Trading Strategies - Unilateral: None; Inter - period: None; Inter - variety: None; Spot - futures: None; Options: None [5].