碳酸锂日报：碳酸锂主力换月-20251126

1. Report Industry Investment Rating - Not mentioned in the report 2. Core Viewpoints of the Report - Today, the main contract of lithium carbonate was changed from LC2601.GFE to LC2605.GFE, with a closing price of 96,340 yuan/ton. The spot price of lithium carbonate was 92,820 yuan/ton, up 0.94% from the previous day, showing an overall upward trend in the past 10 trading days. The current basis was -4,640 points, a negative basis (spot discount), which was 3,380 points weaker than the previous day, and the basis had been oscillating overall in the past 10 trading days. The registered warehouse receipt volume of lithium carbonate was 27,050 lots, an increase of 435 lots (+1.63%) from the previous day, and the warehouse receipts had been decreasing overall in the past 10 trading days. The resumption of production of lithium mines in Jiangxi had been inconsistent, and the market was skeptical about the actual increase, so the tight supply pattern at the lithium ore end remained unchanged [4]. 3. Summary by Relevant Catalogs 3.1 Industry Dynamics - Futures: The closing price of the main contract was 96,340 yuan/ton, up 940 yuan from the previous day and down 2,960 yuan from the previous week; the settlement price of the main contract was 97,460 yuan/ton, up 4,240 yuan from the previous day and down 700 yuan from the previous week. - Lithium Spodumene: The prices of Australian, Brazilian, Zimbabwean, and Malian CIF China lithium spodumene concentrates increased by 70 dollars/ton compared with the previous day, while the prices of South African CIF China lithium spodumene ore remained unchanged. - Lithium Mica: The prices of various grades of lithium mica in the Chinese market increased compared with the previous week, but remained unchanged compared with the previous day. - Lithium Carbonate: The price of domestic 99.5% electric lithium carbonate was 92,820 yuan/ton, up 860 yuan from the previous day and 3,880 yuan from the previous week. - Lithium Hydroxide: The prices of domestic 56.5% lithium hydroxide and Xinjiang's 56.5% monohydrate lithium hydroxide increased by 230 yuan from the previous day, while the prices of other types of lithium hydroxide remained unchanged. - Ternary Materials and Related Products: The prices of ternary precursors and ternary materials remained unchanged compared with the previous day and the previous week. - Downstream Products: The prices of some downstream products such as electrolyte, lithium iron phosphate, and cobalt acid lithium increased compared with the previous week, while the prices of others remained unchanged [6]. 3.2 Relevant Charts - Ore and Lithium Prices: Charts showed the price changes of lithium mica, lithium carbonate futures, lithium hydroxide, lithium carbonate basis, and the price difference between lithium hydroxide and lithium carbonate. - Cathode & Ternary Materials: Charts presented the price changes of manganese acid lithium, lithium iron phosphate, cobalt acid lithium, ternary precursors, and ternary materials. - Other Related Data of Lithium Carbonate Futures: Charts displayed the changes in the trading volume, open interest, and registered warehouse receipt volume of the main contract of lithium carbonate futures [8][10][16].