碳酸锂产业日报-20250812

Report Overview - Report Date: August 12, 2025 [1] - Report Title: Carbonate Lithium Industry Daily Report 1. Report Industry Investment Rating - No information provided 2. Report's Core View - The lithium carbonate market shows a situation where supply is slightly increasing and demand is gradually recovering, with large price fluctuations and an improving industry outlook. The option market sentiment is bullish, and the implied volatility has slightly increased. Technically, the 60 - minute MACD shows that the double - line is above the 0 - axis with a shrinking red column. The operation suggestion is to conduct light - position oscillating trading and control risks [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the main contract is 82,520 yuan/ton, up 1,520 yuan; the net position of the top 20 is - 114,760 lots, up 13,356 lots; the position of the main contract is 356,998 lots, up 39,322 lots; the spread between near and far - month contracts is 3,620 yuan/ton, up 5,620 yuan; the Guangzhou Futures Exchange warehouse receipt is 19,389 lots/ton, up 560 lots [2]. 3.2 Spot Market - The average price of battery - grade lithium carbonate is 78,000 yuan/ton, up 3,500 yuan; the average price of industrial - grade lithium carbonate is 72,300 yuan/ton, up 2,500 yuan; the basis of the Li₂CO₃ main contract is - 4,520 yuan/ton, up 1,980 yuan [2]. 3.3 Upstream Situation - The average price of spodumene concentrate (6% CIF China) is 788 US dollars/ton, unchanged; the average price of amblygonite is 7,250 yuan/ton, up 600 yuan; the price of lepidolite (2 - 2.5%) is 2,501 yuan/ton, up 53 yuan [2]. 3.4 Industry Situation - The monthly output of lithium carbonate is 44,100 tons, up 2,000 tons; the monthly import volume is 17,697.62 tons, down 3,448.16 tons; the monthly export volume is 429.65 tons, up 142.92 tons; the monthly output of power batteries is 133,800 MWh, up 4,600 MWh; the monthly operating rate of lithium carbonate enterprises is 52%, up 5%; the price of lithium manganate is 30,000 yuan/ton, unchanged; the price of lithium hexafluorophosphate is 51,500 yuan/ton, unchanged; the price of ternary material (811 type) in China is 147,000 yuan/ton, up 2,000 yuan; the price of ternary material (622 power type) in China is 123,000 yuan/ton, up 2,000 yuan [2]. 3.5 Downstream and Application Situation - The price of ternary material (523 single - crystal type) in China is 129,000 yuan/ton, up 3,000 yuan; the monthly operating rate of ternary cathode materials is 51%, down 4%; the price of lithium iron phosphate is 32,700 yuan/ton, unchanged; the monthly operating rate of lithium iron phosphate cathodes is 52%, up 3%; the monthly output of new energy vehicles is 1,243,000 vehicles, down 25,000 vehicles; the monthly sales volume is 1,262,000 vehicles, down 67,000 vehicles; the cumulative sales penetration rate of new energy vehicles is 44.99%, up 0.68%; the cumulative sales volume of new energy vehicles is 8,220,000 vehicles, up 2,286,000 vehicles; the monthly export volume of new energy vehicles is 225,000 vehicles, up 20,000 vehicles; the cumulative export volume of new energy vehicles is 1.308 million vehicles, up 600,000 vehicles; the 20 - day average volatility of the target is 68.6%, up 0.01%; the 40 - day average volatility of the target is 50.42%, up 0.05% [2]. 3.6 Option Situation - The total subscription position is 158,991 lots, up 39,939 lots; the total put position is 71,348 lots, up 18,730 lots; the total position put - call ratio is 44.88%, up 0.678%; the at - the - money IV implied volatility is up 0.0299% [2]. 3.7 Industry News - The State Administration for Market Regulation issued the national standard "Technical Requirements for Transportation Safety and Multimodal Transport of Power Lithium Batteries", which will be implemented on February 1, 2026. In July, China's automobile production and sales were 2.591 million and 2.593 million vehicles respectively, with year - on - year increases of 13.3% and 14.7%. New energy vehicle production and sales were 1.243 million and 1.262 million vehicles respectively, with year - on - year increases of 26.3% and 27.4%. The export of new energy vehicles was 225,000 vehicles, a year - on - year increase of 1.2 times. From January to July, the cumulative output of power and other batteries in China was 831.1 GWh, a year - on - year increase of 57.5%, and the sales volume was 786.2 GWh, a year - on - year increase of 60.6% [2].