Report Summary 1. Report Industry Investment Rating - The trend strength of lithium carbonate is -1, indicating a weak - bearish sentiment, with the range of trend strength being integers in the [-2, 2] interval, where -2 is the most bearish and 2 is the most bullish [3] 2. Report's Core View - Lithium carbonate production is increasing while the market is in a weak - running state [1] 3. Summary by Relevant Catalogs Fundamental Tracking - Futures Contracts: The closing price of the 2509 contract is 73,000 yuan, down 5,140 yuan from T - 5; the 2511 contract's closing price is 73,420 yuan, down 4,720 yuan from T - 5. The trading volume of the 2509 contract is 550, a significant decrease compared to T - 5, while the 2511 contract has a trading volume of 712,151, showing an increase compared to T - 5. The open interest of the 2509 contract is 3,868, down 18,976 from T - 5, and the 2511 contract's open interest is 353,674, up 6,611 from T - 5 [1] - Warehouse Receipts: The number of warehouse receipts is 34,948 hands, an increase of 5,991 hands compared to T - 5 [1] - Basis: The basis of spot - 2509 is 2,000 yuan, and spot - 2511 is 1,580 yuan. The basis of 2509 - 2511 is - 420 yuan [1] - Raw Materials: The price of spodumene concentrate (6%, CIF China) is 874 yuan, down 15 yuan from T - 5; the price of lithium mica (2.0% - 2.5%) is 1,865 yuan, down 50 yuan from T - 5 [1] - Lithium Salts: The price of battery - grade lithium carbonate is 75,000 yuan, down 5,000 yuan from T - 5; the price of industrial - grade lithium carbonate is 72,700 yuan, also down 5,000 yuan from T - 5 [1] - Related Products in the Industry Chain: The price of lithium iron phosphate (power type) is 33,995 yuan, down 1,210 yuan from T - 5; the price of ternary material 523 (polycrystalline/consumer type) is 113,450 yuan, down 650 yuan from T - 5 [1] Macro and Industry News - SMM's battery - grade lithium carbonate index price is 74,869 yuan/ton, a decrease of 886 yuan/ton compared to the previous working day. The average price of battery - grade lithium carbonate is 75,000 yuan/ton, down 900 yuan/ton, and the average price of industrial - grade lithium carbonate is 72,700 yuan/ton, also down 900 yuan/ton [2] - This week, the lithium carbonate inventory is 140,092 tons, a decrease of 1,044 tons compared to last week, and the production is 19,419 tons, an increase of 389 tons compared to last week [2]
碳酸锂：产量增长，偏弱运行
Guo Tai Jun An Qi Huo·2025-09-05 02:02