碳酸锂期货日报-20250828

Report Overview - Date: August 28, 2025 [2] - Researcher: Zhang Ping, Yu Feifei, Peng Jinglin [3] - Report Type: Carbonate Lithium Futures Daily Report [1] Industry Investment Rating - Not provided Core View - The short - term carbonate lithium futures are expected to stop falling and recover, with attention on the 77,000 support level. The current high supply pressure persists, but the inventory inflection point is looming as the downstream peak season approaches and social inventories have been decreasing for two weeks [9]. Summary by Section 1. Market Review and Operation Suggestion - Market performance: Carbonate lithium first rose and then fell. The main contract of carbonate lithium futures once rose above 81,000 due to market speculation about the suspension of Yifeng mines, but then declined as market risk preference dropped in the afternoon. Total trading volume increased while total open interest decreased, indicating a strong sentiment of capital leaving the market [9]. - Spot and futures: The spot price of electric - carbon decreased by 100 to 81,600. The spot premium over the 09 contract was 2,540, slightly higher than the previous day. As the 09 contract approaches the delivery month, the futures and spot prices are expected to converge [9]. - Raw material prices and production profits: The prices of Australian ore and lithium mica ore remained flat. The production profit of salt plants using purchased lithium spodumene narrowed to 1,988, and the production loss of salt plants using purchased lithium mica widened to 2,946. Despite this, salt - plant production enthusiasm remains high, and high supply pressure persists [9]. - Downstream product prices: The price of 5 - series power ternary materials remained flat, while the price of lithium iron phosphate decreased by 30. The upstream and downstream of the industrial chain showed resistance to price drops [9]. 2. Industry News - Energy innovation achievements: During the "High - quality Completion of the 14th Five - Year Plan" press conference, the National Energy Administration stated that during the 14th Five - Year Plan, new energy patents accounted for over 40% globally, and new energy technologies set new world records. New energy models and formats are booming, and new tracks are emerging, becoming an important source of new - quality productivity development [12]. - Company development: Del股份 is deeply involved in oxide solid - state battery technology, has built a sample trial - production line in Shanghai, and is accelerating the construction of a pilot line in Huzhou. Its products have obtained international certification, and it is promoting cooperation with automobile manufacturers and the implementation of diversified application scenarios [12]