Report Summary 1. Industry Investment Rating - Not provided 2. Core View - The narrative of strong terminal demand continues, the de - stocking of social inventory increases, and the degree of supply - demand mismatch deepens. However, from a fundamental perspective, the hedging pressure from above is gradually released, weakening the upward momentum. The market has begun to show differences (rumors of mine resumption have emerged), and further capital, events, and news are needed to push up the price. Otherwise, the price will remain low [3] 3. Summary by Category Lithium Compounds - SMM battery - grade lithium carbonate has an average price of 81,000 yuan with a rise of 450 yuan; SMM industrial - grade lithium carbonate has an average price of 78,800 yuan with a rise of 450 yuan [1] Lithium Futures Contracts - Lithium carbonate 2511 has a closing price of 80,620 yuan with a decline of 0.67%; lithium carbonate 2512 has a closing price of 82,100 yuan with no change; lithium carbonate 2601 has a closing price of 82,280 yuan with a decline of 0.1%; lithium carbonate 2602 has a closing price of 81,980 yuan with a rise of 0.27%; lithium carbonate 2603 has a closing price of 81,760 yuan with a rise of 0.02% [1] Lithium Ore - Lithium spodumene concentrate (CIF China) (Li20: 5.5% - 6%) has an average price of 941 yuan with a decline of 3 yuan; lithium mica (Li20: 1.5% - 2.0%) has an average price of 1350 yuan with a decline of 30 yuan; lithium mica (Li20: 2.0% - 2.5%) has an average price of 2150 yuan with a decline of 30 yuan; phospho - lithium - aluminum stone (Li20: 6% - 7%) has an average price of 7360 yuan; phospho - lithium - aluminum stone (Li20: 7% - 8%) has an average price of 8770 yuan with a decline of 55 yuan [1][2] Cathode Materials - The average price of lithium iron phosphate (power type) is 36,050 yuan with a rise of 110 yuan; the average price of ternary material 811 (polycrystalline/power type) is 157,950 yuan with a rise of 100 yuan; the average price of ternary material 523 (single - crystal/power type) is 139,450 yuan with a rise of 150 yuan; the average price of ternary material 613 (single - crystal/power type) is 138,150 yuan with a rise of 200 yuan [2] Price Spreads - The difference between battery - grade and industrial - grade lithium carbonate is 2200 yuan with no change; the difference between battery - grade lithium carbonate and the main contract is - 1280 yuan with a decline of 1050 yuan; the difference between the near - month and the first - continuous contract is - 180 yuan with a rise of 1240 yuan; the difference between the near - month and the second - continuous contract is 120 yuan with a rise of 1600 yuan [2] Inventory - The total inventory (weekly, tons) is 127,358 tons with a decline of 3008 tons; the smelter inventory (weekly, tons) is 32,051 tons with a decline of 1630 tons; the downstream inventory (weekly, tons) is 53,288 tons with a decline of 1987 tons; the other inventory (weekly, tons) is 42,020 tons with a rise of 610 tons; the registered warehouse receipts (daily, tons) is 27,290 tons with a decline of 331 tons [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate is 80,421 yuan, and the profit is - 557 yuan; the cash cost of purchasing lithium mica concentrate is 84,985 yuan, and the profit is - 7158 yuan [3]
碳酸锂数据日报-20251104
Guo Mao Qi Huo·2025-11-04 07:42