碳酸锂日报：碳酸锂震荡企稳-20251127

Report Summary 1. Investment Rating No investment rating for the industry is provided in the report. 2. Core View The report indicates that the price of lithium carbonate is oscillating and stabilizing. The futures price is on a downward trend in the past 10 trading days, while the spot price is on an upward trend. The negative basis is strengthening, and the registered warehouse receipts are decreasing. The inventory reduction speed has significantly slowed down. [4] 3. Summary by Directory 3.1 Industry Dynamics - Futures Market: The closing price of the main contract LC2605.GFE is 95,820 yuan/ton, down 520 yuan/ton (-0.54%) from the previous day, and the settlement price is 97,020 yuan/ton, down 440 yuan/ton from the previous day. [4][6] - Lithium Ore Prices: Prices of various types of lithium ore, including lithium spodumene and lithium mica, show different trends. For example, the price of Australian CIF6 China lithium spodumene concentrate has increased, while some lithium mica prices remain unchanged compared to the previous day but have increased compared to the previous week. [6] - Lithium Salt Prices: The price of domestic 99.5% electric-grade lithium carbonate is 93,340 yuan/ton, up 520 yuan/ton from the previous day, and the price of domestic 56.5% lithium hydroxide is 81,790 yuan/ton, up 440 yuan/ton from the previous day. [6] - Downstream Product Prices: Prices of some downstream products such as ternary precursors and electrolytes have changed. For example, the price of ternary precursor (523) is 105,000 yuan/ton, down 500 yuan/ton from the previous day. [6] 3.2 Related Charts - Ore and Lithium Prices: Charts show the price trends of lithium mica, lithium carbonate futures, lithium carbonate spot, lithium hydroxide, lithium carbonate basis, and the price difference between lithium hydroxide and lithium carbonate. [8][9] - Cathode & Ternary Materials: Charts display the price trends of manganese - acid lithium, lithium iron phosphate, cobalt - acid lithium, ternary precursors, and ternary materials. [11][15] - Other Charts: Charts present the trading volume and open interest of lithium carbonate futures, as well as the quantity of registered warehouse receipts. [17][18]