碳酸锂日报（2025年8月8日）-20250808

1. Report Industry Investment Rating There is no information provided about the report industry investment rating in the given content. 2. Core Viewpoints of the Report - The 2511 contract of lithium carbonate futures rose 5.36% to 72,300 yuan/ton yesterday. The average price of battery - grade lithium carbonate increased by 150 yuan/ton to 71,100 yuan/ton, and the average price of industrial - grade lithium carbonate increased by 150 yuan/ton to 69,000 yuan/ton. The price of battery - grade lithium hydroxide (coarse particles) remained at 65,490 yuan/ton. The warehouse receipt inventory increased by 1,420 tons to 16,443 tons [3]. - On the supply side, the weekly output increased by 2,288 tons to 19,556 tons, with a large increase in lithium extraction from lithium mica, followed by lithium extraction from spodumene and salt lakes. It is expected that the supply in August will increase by 3% month - on - month to 84,200 tons. On the demand side, the lithium consumption of the two major cathode materials in August is expected to increase by 8% month - on - month to 86,000 tons of LCE. On the inventory side, the social inventory increased by 692 tons to 142,418 tons this week, with inventory reduction in the upstream and other links and inventory replenishment in the downstream [3]. - After the concentrated cancellation of warehouse receipt inventory, there is a certain reflux, but the current total remains at a low level. The short - term market focus is on the uncertainty of whether Jiaxiaowo will stop production [3]. 3. Summary According to Relevant Catalogs 3.1 Daily Data Monitoring - Futures: The closing price of the main contract was 72,300 yuan/ton, up 2,680 yuan; the closing price of the continuous contract was 70,000 yuan/ton, up 1,140 yuan [5]. - Lithium Ore: The price of spodumene concentrate (6%, CIF China) was 757 US dollars/ton, up 9 US dollars; the price of lithium mica (Li2O: 1.5% - 2.0%) was 1,090 yuan/ton, up 25 yuan; the price of lithium mica (Li2O: 2.0% - 2.5%) was 1,750 yuan/ton, up 60 yuan; the price of amblygonite (Li2O: 6% - 7%) was 5,550 yuan/ton, up 275 yuan; the price of amblygonite (Li2O: 7% - 8%) was 6,500 yuan/ton, up 300 yuan [5]. - Lithium Carbonate: The price of battery - grade lithium carbonate (99.5% battery - grade/domestic) was 71,100 yuan/ton, up 150 yuan; the price of industrial - grade lithium carbonate (99.2% industrial zero - grade/domestic) was 69,000 yuan/ton, up 150 yuan [5]. - Lithium Hydroxide: The price of battery - grade lithium hydroxide (coarse particles/domestic) remained at 65,490 yuan/ton; the price of battery - grade lithium hydroxide (micropowder) remained at 70,610 yuan/ton; the price of industrial - grade lithium hydroxide (coarse particles/domestic) remained at 60,420 yuan/ton; the price of battery - grade lithium hydroxide (CIF China, Japan and South Korea) was 8.05 US dollars/kg, down 0.1 US dollars [5]. - Lithium Hexafluorophosphate: The price of lithium hexafluorophosphate was 52,150 yuan/ton, up 50 yuan [5]. - Spreads: The price difference between battery - grade lithium carbonate and industrial - grade lithium carbonate remained at 2,100 yuan/ton; the price difference between battery - grade lithium hydroxide and battery - grade lithium carbonate was - 5,610 yuan/ton, down 150 yuan; CIF China, Japan and South Korea battery - grade lithium hydroxide - SMM battery - grade lithium hydroxide was - 8,057.28 yuan/ton, down 766 yuan [5]. - Precursors & Cathode Materials: The prices of various ternary precursors and cathode materials such as ternary precursor 523, ternary material 523, and lithium iron phosphate all showed varying degrees of increase, while the prices of some products such as manganese acid lithium remained unchanged [5]. - Cells & Batteries: The prices of various cells and batteries such as 523 square ternary cells, square lithium iron phosphate cells, and cobalt acid lithium cells remained unchanged [5]. 3.2 Chart Analysis - Ore Prices: There are charts showing the price trends of spodumene concentrate (6%, CIF), lithium mica (1.5% - 2.0%), lithium mica (2.0% - 2.5%), and amblygonite (6% - 7%) from 2024 to 2025 [6][8]. - Lithium and Lithium Salt Prices: There are charts showing the price trends of metallic lithium, battery - grade lithium carbonate average price, industrial - grade lithium carbonate average price, battery - grade lithium hydroxide price, and lithium hexafluorophosphate price from 2024 to 2025 [9][11][13]. - Spreads: There are charts showing the price difference trends of battery - grade lithium hydroxide and battery - grade lithium carbonate, battery - grade lithium carbonate and industrial - grade lithium carbonate, and other spreads from 2024 to 2025 [16][17][19]. - Precursors & Cathode Materials: There are charts showing the price trends of ternary precursors, ternary materials, lithium iron phosphate, manganese acid lithium, and cobalt acid lithium from 2024 to 2025 [21][24][27]. - Lithium Battery Prices: There are charts showing the price trends of 523 square ternary cells, square lithium iron phosphate cells, cobalt acid lithium cells, and square lithium iron phosphate batteries from 2024 to 2025 [29][31]. - Inventory: There are charts showing the inventory trends of downstream, smelters, and other links from December 12, 2024, to July 31, 2025 [34][35][37]. - Production Costs: There are charts showing the profit trends of lithium carbonate production from various raw materials such as外购三元极片黑粉,外购磷酸铁锂极片黑粉,外购锂云母精矿, and外购锂辉石精矿 from 2024 to 2025 [38][39].