国泰君安期货商品研究晨报：绿色金融与新能源-20250825

Report Overview - Report Date: August 25, 2025 - Report Title: Guotai Junan Futures Commodity Research Morning Report - Green Finance and New Energy - Report Focus: Nickel, stainless steel, lithium carbonate, industrial silicon, and polysilicon futures Industry Investment Ratings - Not provided in the report Core Views - Nickel: Expected to trade in a narrow range [2][4] - Stainless steel: Likely to experience short - term low - level fluctuations [2][4] - Lithium carbonate: Forecasted to have wide - range oscillations [2][10] - Industrial silicon: Market sentiment is boosted [2][14] - Polysilicon: Expected to trade in a range, with a strategy of buying on dips [2][14] Summary by Commodity Nickel and Stainless Steel - Fundamental Data:沪镍主力收盘价119,610, down 220 from T - 1; stainless steel主力收盘价12,750, down 45 from T - 1. Other data such as trading volume, price differentials, and raw material prices are also presented [4] - Macro and Industry News: Ontario may stop exporting nickel to the US; an Indonesian nickel - iron project entered trial production; environmental violations were found in an Indonesian industrial park; Indonesia plans to shorten mining quota periods; production at an Indonesian nickel - iron smelting park was suspended [4][5][6] - Trend Intensity: Both nickel and stainless steel have a trend intensity of 0, indicating a neutral outlook [9] Lithium Carbonate - Fundamental Data: 2509合约收盘价79,180, down 3,820 from T - 1. Data on trading volume, open interest, basis, and raw material prices are detailed [11] - Macro and Industry News: SMM's battery - grade lithium carbonate index price dropped; Zhongwei Co. is involved in Argentine salt - lake lithium mines [12][13] - Trend Intensity: Lithium carbonate has a trend intensity of 0, suggesting a neutral view [13] Industrial Silicon and Polysilicon - Fundamental Data: Si2511收盘价8,745, up 110 from T - 1; PS2511相关数据也有展示. Information on price differentials, spot premiums, costs, and inventories is provided [14] - Macro and Industry News: Huadian Group's photovoltaic component procurement project开标, with details on bidding prices and scales [14][16] - Trend Intensity: Both industrial silicon and polysilicon have a trend intensity of 1, indicating a moderately positive outlook [16]