碳酸锂：升贴水疲弱，上方空间有限

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Report's Core View The report focuses on the lithium carbonate market, stating that the premium/discount is weak and the upside potential is limited [1]. 3. Summary by Relevant Catalogs Fundamental Tracking - Market Data: The closing prices of the 2511 and 2601 contracts of lithium carbonate are 79,380 and 79,940 respectively, with corresponding trading volumes of 102,817 and 490,920, and open interests of 86,027 and 419,147. The warehouse receipt volume is 28,759 hands [2]. - Basis Data: The basis of spot - 2511 is -4,580, and spot - 2601 is -5,140. The basis of 2511 - 2601 is -560 [2]. - Raw Material Data: The prices of lithium spodumene concentrate (6%, CIF China) and lithium mica (2.0% - 2.5%) are 870 and 1,890 respectively. The prices of battery - grade lithium carbonate and industrial - grade lithium carbonate are 74,800 and 72,550 respectively [2]. - Industry Chain Data: The prices of various lithium - related products such as battery - grade lithium hydroxide, ternary materials, and lithium hexafluorophosphate are provided, showing different price changes over different time intervals [2]. Macroeconomic and Industry News - SMM's battery - grade lithium carbonate index price is 74,821 yuan/ton, up 458 yuan/ton from the previous working day. The average price of battery - grade lithium carbonate is 74,800 yuan/ton, up 450 yuan/ton, and the average price of industrial - grade lithium carbonate is 72,550 yuan/ton, also up 450 yuan/ton [3]. - This week, the lithium carbonate production is 21,308 tons, an increase of 242 tons from last week, and the industry inventory is 130,366 tons, a decrease of 2,292 tons from last week [3]. Trend Intensity The trend intensity of lithium carbonate is 0, indicating a neutral trend. The trend intensity ranges from -2 (most bearish) to 2 (most bullish) [4].