碳酸锂期货日报-20251128

Report Information - Report Title: Carbonate Lithium Futures Daily Report [1] - Date: November 28, 2025 [2] - Researcher: Zhang Ping, Yu Feifei, Peng Jinglin [3] Industry Investment Rating - Not provided Core View - The carbonate lithium futures price rose and then fell, with the decline expanding at the end of the session, closing at 95,850. The spot price increased by 500 to 93,300. The prices of Australian ore, mica, 6F, ternary and lithium iron electrolytes, ternary materials, and lithium iron materials all increased. The short - term carbonate lithium futures price is expected to be supported by the spot price, with limited downward space, but it is difficult to break the previous high after the emotional release [11]. Summary by Directory 1. Market Review and Operation Suggestions - Carbonate lithium futures showed a trend of rising and then falling, with the closing price at 95,850. The spot price rose to 93,300. The prices of upstream and downstream products in the industrial chain continued to increase. The futures market has large fluctuations due to emotions, and the futures price is at a premium to the spot price. The short - term futures price is supported by the spot price, with limited downward space and difficult to break the previous high [11]. 2. Industry News - Critical Resources expanded the land holding area of its Mavis Lake project by 25% to over 400 square kilometers, strengthening its position in the emerging lithium corridor in north - western Ontario. It has identified 8 million tons of inferred mineral resources with a Li2O content of 1.07% and completed over 58,000 meters of drilling [12]. - At the 2025 Second China International Lithium Industry Conference, it was shown that the energy storage market has become the core growth pole of lithium demand. The global energy storage new - installed capacity in 2025 is expected to reach 268GWh, a year - on - year increase of 48%, with a compound growth rate of over 20% in the next decade. The carbonate lithium price has rebounded to over 90,000 yuan/ton, and the inventory days have dropped to a nearly three - year low of 32 days. The supply - demand pattern has turned to a tight balance. Some companies are accelerating the layout of solid - state batteries. The industry predicts that the global lithium demand will reach 2 million tons of carbonate lithium equivalent in 2026, and the price center may continue to rise [12][13]