碳酸锂：进口矿放量，碳酸锂去库放缓，区间震荡

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Report's Core View - This week, the price of lithium carbonate futures contracts showed a range-bound trend. The 2511 contract closed at 72,880 yuan/ton, down 1,080 yuan/ton week-on-week, and the 2601 contract closed at 72,820 yuan/ton, down 1,220 yuan/ton week-on-week. The spot price increased by 100 yuan/ton to 73,600 yuan/ton [1]. - The supply of lithium ore increased, with the weekly output reaching a new high of 20,516 tons. The demand from the domestic energy storage market exceeded expectations, but the cathode materials maintained inventory accumulation. The weekly lithium carbonate inventory decreased to 136,800 tons, and the de-stocking speed slowed down for three consecutive weeks [2]. - In the future, it is expected that the price will maintain a range-bound trend. The de-stocking speed of lithium carbonate has slowed down, and the downstream inventory preparation for the National Day is almost over. However, the demand on the consumer electronics and energy storage sides is expected to remain strong [3]. - For single - sided trading, the price of the futures main contract is expected to run in the range of 70,000 - 76,000 yuan/ton. For cross - period trading, due to strong demand but increasing warehouse receipts, arbitrage is not recommended. For hedging, considering the significant price fluctuations caused by the change of lithium ore mining rights, it is recommended to increase the hedging ratio and use options for hedging [4][5][6]. 3. Summary by Relevant Catalogs 3.1 Market Data - The report presents various price data of lithium - related products, including the prices of lithium ore, lithium salts, electrolytes, positive electrode materials, and lithium batteries, as well as their week - on - week changes [9]. 3.2 Lithium Salt Upstream Supply - Side (Lithium Ore) - The shipment volume of Australian lithium ore increased significantly, with 230,000/441,000 tons shipped in the first four weeks of August and September respectively. The price of lithium ore was firm but not significantly stronger [2]. - The weekly production of lithium carbonate reached a new high of 20,516 tons. The disk profit and spot profit weakened, but the spot price remained strong. The shipment volume of lithium salts from Chile was 25,600/27,400 tons in August and September [2]. 3.3 Lithium Salt Mid - stream Consumption - Side (Lithium Salt Products) - The report provides multiple charts showing the price trends, production, inventory, and import - export volume of lithium carbonate, including battery - grade and industrial - grade lithium carbonate, as well as the price difference between battery - grade and industrial - grade lithium carbonate [10][11][12]. 3.4 Lithium Salt Downstream Consumption - Side (Lithium Batteries and Materials) - The report shows the apparent consumption, inventory available days, monthly production, and monthly operating rates of lithium - battery - related products such as lithium iron phosphate, ternary materials, and various types of lithium batteries through multiple charts [15][16][17].