碳酸锂日报（2025 年 10 月 31）-20251031

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report - Yesterday, the lithium carbonate futures 2601 contract rose 1.19% to 83,400 yuan/ton. Spot prices also increased, with the average price of battery - grade lithium carbonate rising 850 yuan/ton to 80,000 yuan/ton, industrial - grade lithium carbonate rising 850 yuan/ton to 77,800 yuan/ton, and battery - grade lithium hydroxide (coarse particles) rising 300 yuan/ton to 75,380 yuan/ton. Warehouse receipts increased by 116 tons to 27,641 tons [3]. - Supply is expected to decline slightly on a monthly basis. Weekly production decreased by 228 tons to 21,080 tons. Demand side: weekly ternary material production increased by 802 tons to 18,568 tons, and inventory increased by 298 tons to 18,890 tons. Inventory decreased by 3,007 tons to 127,359 tons on a weekly basis [3]. - With the improvement of macro - sentiment, the weekly inventory destocking speed is accelerating, and market news indicates that the lithium ore auction price is strengthening, which boosts the bottom price. In the short term, it may still run strongly, but cautious optimism is needed, and there is still an expectation of project resumption [3]. 3. Summary by Related Catalogs 3.1 Daily Data Monitoring - Futures and Lithium Ore Prices: The closing price of the main futures contract increased by 500 yuan/ton to 83,400 yuan/ton, and the continuous contract increased by 100 yuan/ton to 81,840 yuan/ton. Lithium ore prices such as lithium spodumene concentrate and lithium mica also rose [5]. - Lithium Salt Prices: Battery - grade lithium carbonate, industrial - grade lithium carbonate, and various types of lithium hydroxide prices all increased. The price of lithium hexafluorophosphate rose by 3,000 yuan/ton to 106,000 yuan/ton [5]. - Price Spreads: The price spread between battery - grade and industrial - grade lithium carbonate remained unchanged, while the spread between battery - grade lithium hydroxide and battery - grade lithium carbonate decreased by 550 yuan/ton [5]. - Precursor and Cathode Material Prices: Some ternary precursor prices remained stable, while some ternary material and lithium iron phosphate prices increased [5]. - Battery Cell and Battery Prices: The prices of some battery cells and batteries increased, such as 523 square ternary cells and square lithium iron phosphate battery cells [5]. 3.2 Chart Analysis - Ore Prices: Charts show the price trends of lithium spodumene concentrate, lithium mica, and other ores from 2024 to 2025 [6][7][8][9]. - Lithium and Lithium Salt Prices: Charts display the price trends of metal lithium, battery - grade and industrial - grade lithium carbonate, lithium hydroxide, and lithium hexafluorophosphate from 2024 to 2025 [10][11][12][13][14][15]. - Price Spreads: Charts present the price spreads between battery - grade lithium hydroxide and battery - grade lithium carbonate, and other relevant spreads from 2024 to 2025 [17][18][19][20][21][22]. - Precursor & Cathode Materials: Charts show the price trends of ternary precursors, ternary materials, lithium iron phosphate, lithium manganate, and cobalt acid lithium from 2024 to 2025 [24][26][27][28][29][30]. - Lithium Battery Prices: Charts display the price trends of 523 square ternary cells, square lithium iron phosphate cells, cobalt acid lithium cells, and square lithium iron phosphate batteries from 2024 to 2025 [32][33][34][35]. - Inventory: Charts show the inventory trends of downstream, smelters, and other links from March to October 2025 [37][38][39][40]. - Production Costs: The chart shows the production profit trends of different raw materials for lithium carbonate production from 2024 to 2025 [41][42]. 3.3 Research Team Introduction - The research team includes Zhan Dapeng, Wang Heng, and Zhu Xi, who have rich experience and professional titles in the field of non - ferrous metals research, and are responsible for different research directions [45][46]. 3.4 Contact Information - The company is located at 6th Floor, Building 1, Lujiazui Century Financial Plaza, No. 729, Yanggao South Road, China (Shanghai) Pilot Free Trade Zone. The company phone is 021 - 80212222, and the fax is 021 - 80212200. The customer service hotline is 400 - 700 - 7979, and the postal code is 200127 [49][50].