碳酸锂数据日报-20251124

Report Summary 1. Industry Investment Rating - Not mentioned in the report 2. Core View - The China Chemical and Physical Power Sources Industry Association will issue a notice on referring to the lithium iron phosphate cost index and standardizing industry development, suggesting that companies use the industry average cost range disclosed on November 18 as an important reference for pricing and not engage in low - price dumping below the cost line. The association will also regularly disclose the industry average cost range monthly and requires companies to submit operating data regularly [3] - After the lithium carbonate price reached 100,000 yuan, the market focuses on the continuation of the peak demand season and the resumption rhythm of mines in Jiangxi. There was a market correction due to factors such as narrowing de - stocking and mine resumption news. Terminal demand remains strong, but there is a callback demand due to the large number of profit - taking positions. With overseas mines, the market has a negative sentiment. In the short term, lithium carbonate prices face downward pressure and may experience wide - range fluctuations after stabilizing [3] 3. Summary by Related Catalogs 3.1 Lithium Compound and Lithium Ore Prices - SMM battery - grade lithium carbonate average price is 92,300 yuan, up 2,500 yuan; SMM industrial - grade lithium carbonate average price is 89,900 yuan, up 1,000 yuan [1] - Lithium ore prices: lithium spodumene concentrate (CIF China) is 1,089 yuan, down 28 yuan; lithium mica (Li₂O:1.5% - 2.0%) is 1,615 yuan, down 95 yuan; lithium mica (Li₂O:2.0% - 2.5%) is 2,550 yuan, down 150 yuan; phospho - lithium - aluminum stone (Li₂O:6% - 7%) is 8,750 yuan, down 875 yuan; phospho - lithium - aluminum stone (Li₂O:7% - 8%) is 10,100 yuan, down 975 yuan [1][2] 3.2 Lithium Carbonate Futures - Futures contract prices and changes: lithium carbonate 2512 closed at 90,960 yuan, down 8.99%; lithium carbonate 2601 closed at 91,020 yuan, down 9%; lithium carbonate 2602 closed at 91,040 yuan, down 9%; lithium carbonate 2603 closed at 91,160 yuan, down 8.99%; lithium carbonate 2604 closed at 91,880 yuan, down 8.99% [1] 3.3 Cathode Materials - Cathode material average prices and changes: lithium iron phosphate (power type) is 38,985 yuan, up 240 yuan; ternary material 811 (polycrystalline/power type) is 161,650 yuan, up 100 yuan; ternary material 523 (single - crystal/power type) is 143,950 yuan, up 200 yuan; ternary material 613 (single - crystal/power type) is 144,250 yuan, up 200 yuan [2] 3.4 Price Spreads - Price spreads and their changes: the difference between battery - grade and industrial - grade lithium carbonate is 2,400 yuan, with no change; the difference between battery - grade lithium carbonate and the main contract is 1,280 yuan, up 8,960 yuan; the difference between the near - month and the first - continuous contract is - 60 yuan, up 40 yuan; the difference between the near - month and the second - continuous contract is - 80 yuan, up 100 yuan [2] 3.5 Inventory - Total inventory (weekly) is 118,420 tons, down 2,052 tons; smelter inventory (weekly) is 26,104 tons, down 2,166 tons; downstream inventory (weekly) is 44,436 tons, down 4,336 tons; other inventory (weekly) is 47,880 tons, up 4,450 tons; registered warehouse receipts (daily) is 26,848 tons, down 68 tons [2] 3.6 Profit Estimation - The cash cost of purchasing lithium spodumene concentrate externally is 89,670 yuan, and the profit is 1,350 yuan; the cash cost of purchasing lithium mica concentrate externally is 93,596 yuan, and the profit is 4,836 yuan [3] 3.7 Industry News - SMM reported that lithium carbonate production increased by 585 tons and inventory decreased by 2,052 tons this week [3]