新能源及有色金属日报：现货价格继续上涨，需关注供应端扰动-20250820

Report Investment Rating - No investment rating information provided in the report Core Viewpoints - The supply of lithium carbonate is expected to tighten, and downstream procurement demand has increased during the peak demand season, so the spot price of lithium carbonate is expected to continue to rise, and the price center will move up in the short term [1] - Affected by the disturbance of the mining end, lithium carbonate is expected to run strongly, but the short - term market fluctuates greatly and is easily affected by capital sentiment and news [3] Market Analysis - On August 19, 2025, the lithium carbonate main contract 2511 opened at 89,500 yuan/ton and closed at 87,540 yuan/ton, with a change of - 1.79% compared to the previous trading day's settlement price. The trading volume was 734,929 lots, and the open interest was 414,097 lots, compared with 421,106 lots in the previous trading day. The current basis was - 2,220 yuan/ton (average price of electric carbon - futures). The lithium carbonate warehouse receipts were 23,615 lots, a change of 60 lots from the previous trading day [1] - According to SMM data, the price of battery - grade lithium carbonate was quoted at 84,300 - 87,100 yuan/ton, a change of 1,100 yuan/ton from the previous trading day, and the price of industrial - grade lithium carbonate was quoted at 82,700 - 84,100 yuan/ton, also a change of 1,100 yuan/ton from the previous trading day. The price of 6% lithium concentrate was 1,040 US dollars/ton, a change of 5 US dollars/ton from the previous day [1] - Due to the decline in futures prices, downstream purchasing and price - setting behaviors increased significantly, pushing up the spot price of lithium carbonate [1] Company News - Jiangte Motor's wholly - owned subsidiary, Yichun Yinli New Energy Co., Ltd., which had previously stopped production for equipment maintenance, will resume production soon [2] Strategy - Unilateral: Short - term investors can buy on dips for hedging - No strategies provided for inter - delivery, cross - variety, spot - futures, and options trading [3]