碳酸锂日报：碳酸锂震荡企稳-20251128

Group 1: Report Overview - The research report is a daily report on lithium carbonate dated November 28, 2025, prepared by Long Aoming from the Investment Consulting Department of Baocheng Futures [3][4] Group 2: Core Views - The lithium carbonate market is showing signs of stabilization with upward trends in both futures and spot prices over the past 10 trading days. There is also a shift of some inventory from the end - users to the mid - stream, leading to increased market wait - and - see sentiment [4] Group 3: Market Data Summary Futures Market - The closing price of the main contract LC2605.GFE was 96,420 yuan/ton, up 600 yuan/ton (+0.63%) from the previous day, and showed an upward trend in the past 10 trading days [4] Spot Market - The spot price of lithium carbonate was 93,780 yuan/ton, up 0.47% from the previous day, and had an upward trend in the past 10 trading days [4] Basis Analysis - The current basis was - 2,620 points, indicating a negative basis (spot discount), which strengthened by 1,060 points from the previous day, and the basis had strengthened overall in the past 10 trading days [4] Warehouse Receipts - The registered warehouse receipts of lithium carbonate were 5,441 lots, a decrease of 21,340 lots (-79.68%) from the previous day, and the warehouse receipts had decreased overall in the past 10 trading days [4] Supply - Demand Relationship - Some inventory has shifted from end - users to the mid - stream, increasing market wait - and - see sentiment [4] Group 4: Industry Dynamics - Price Comparison Futures - The main contract closing price was 96,420 yuan/ton, up 600 yuan from the previous day and 5,400 yuan from the previous week. The main contract settlement price was 96,400 yuan/ton, down 620 yuan from the previous day but up 3,240 yuan from the previous week [6] Lithium Ore - Different types of lithium ore, such as Australian, Brazilian, Zimbabwean, and Malian lithium spodumene, and various grades of lithium mica, showed different price changes compared to the previous day and the previous week [6] Lithium Compounds - The price of domestic 99.5% electric - grade lithium carbonate was 93,780 yuan/ton, up 440 yuan from the previous day and 1,420 yuan from the previous week. The price of domestic 56.5% lithium hydroxide had similar upward trends [6] Downstream Products - Prices of downstream products like ternary materials, electrolytes, and cathode materials also had different price changes compared to the previous day and the previous week [6] Group 5: Related Charts Ore and Lithium Prices - Charts show the price changes of lithium mica, lithium carbonate futures, lithium carbonate spot, and lithium hydroxide [8][9] Cathode and Ternary Materials - Charts display the prices of manganese - acid lithium, lithium iron phosphate, cobalt - acid lithium, ternary precursors, and ternary materials [11][12][14] Other Related Data of Lithium Carbonate Futures - Charts present the changes in the trading volume, open interest, and registered warehouse receipts of lithium carbonate futures [16][17]