碳酸锂：仓单去化延续，短期价格偏坚挺

Report Summary 1. Report Industry Investment Rating - No information provided regarding the industry investment rating. 2. Core View of the Report - The de - stocking of lithium carbonate warehouse receipts continues, and the short - term price is relatively firm [1]. 3. Summary by Related Catalogs 3.1 Fundamental Tracking - Futures Market Data: For the 2511 contract, the closing price was 75,580 (down 120 compared to T - 1), the trading volume was 102,894 (down 66,214 compared to T - 1), and the open interest was 113,411 (down 25,023 compared to T - 1). For the 2601 contract, the closing price was 75,980 (up 40 compared to T - 1), the trading volume was 197,979 (up 9,188 compared to T - 1), and the open interest was 310,199 (up 16,916 compared to T - 1). The warehouse receipt volume was 29,892 (down 813 compared to T - 1) [2]. - Raw Material Data: The price of spodumene concentrate (6%, CIF China) was 854 (up 3 compared to T - 1), the price of lithium mica (2.0% - 2.5%) was 1,845 (up 20 compared to T - 1), the price of battery - grade lithium carbonate was 74,100 (up 100 compared to T - 1), and the price of battery - grade lithium carbonate (CIF) was 9,400 (unchanged compared to T - 1) [2]. - Lithium Salt and Related Product Data: The price of industrial - grade lithium carbonate was 71,850 (up 100 compared to T - 1), the price of battery - grade lithium hydroxide (micropowder) was 78,100 (unchanged compared to T - 1), and the price of battery - grade lithium hydroxide (CIF) was 9,450 (unchanged compared to T - 1). The prices of various types of lithium iron phosphate, ternary materials, and other products also showed different changes [2]. 3.2 Macro and Industry News - SMM's battery - grade lithium carbonate index price was 74,110 yuan/ton, up 119 yuan/ton compared to the previous working day. The average price of battery - grade lithium carbonate was 74,100 yuan/ton, up 100 yuan/ton compared to the previous working day, and the average price of industrial - grade lithium carbonate was 71,850 yuan/ton, up 100 yuan/ton compared to the previous working day [3]. - Kodal announced on October 20 that the first batch of 30,000 tons of spodumene concentrate from the Bougouni project will be shipped from the Port of San Pedro in Côte d'Ivoire to Yangpu Port in Hainan, marking the official start of the mine's export business. The transportation is expected to take 4 to 6 weeks, and 45,000 tons of inventory will be shipped later [4]. 3.3 Trend Intensity - The trend intensity of lithium carbonate is 1, indicating a relatively strong trend. The trend intensity ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [4].