碳酸锂数据日报-20251203

Report Summary 1. Report Industry Investment Rating - No information about the industry investment rating is provided in the report. 2. Core Viewpoints - The current market is mainly concerned about demand changes, with weekly demand remaining stable and prices being supported. In the medium - term, due to the continued release of energy storage demand, prices tend to rise, but there is downward pressure on prices in the short - term [3]. - The news that the certification materials of Ningde Times' Xiakeng Mine are complete and have been received is expected to get the certificate in mid - January at the latest and as early as December, and the subsequent impact of this mine on prices will gradually decrease [3]. 3. Summary by Related Catalogs Lithium Compounds - SMM battery - grade lithium carbonate has an average price of 94,400 yuan/ton, up 2,500 yuan/ton; SMM industrial - grade lithium carbonate has an average price of 91,950 yuan/ton, up 2,000 yuan/ton [1]. - The prices of lithium carbonate futures contracts from 2607 to 2611 are all down, with the decline ranging from 0.64% to 0.94% [1]. Lithium Ore - The price of lithium spodumene concentrate (CIF China) is 1,184 US dollars, down 6 US dollars [1]. - The prices of lithium mica (Li20: 1.5% - 2.0%), lithium mica (Li20: 2.0% - 2.5%), phospho - lithium - aluminum stone (Li20: 6% - 7%), and phospho - lithium - aluminum stone (Li20: 7% - 8%) are down by 20, 25, 150, and 225 respectively [2]. Cathode Materials - The average price of lithium iron phosphate (power type) is 39,500 yuan/ton, up 15 yuan/ton; the prices of ternary materials 811 (polycrystalline/power type), 523 (single - crystal/power type), and 613 (single - crystal/power type) remain unchanged [2]. Price Spreads - The difference between battery - grade and industrial - grade lithium carbonate is 2,450 yuan/ton, with no change; the difference between battery - grade lithium carbonate and the main contract is - 2,160 yuan/ton, up 430 yuan/ton [2]. - The differences between the near - month contract and the first - continuous contract and the second - continuous contract are 2,120 yuan/ton (up 20 yuan/ton) and - 280 yuan/ton (up 160 yuan/ton) respectively [2]. Inventory - The total inventory is 115,968 tons (weekly), down 2,452 tons; the inventory of smelters is 24,324 tons (weekly), down 1,780 tons; the inventory of downstream is 41,984 tons (weekly), down 2,452 tons; the inventory of others is 49,660 tons (weekly), up 1,780 tons; the registered warehouse receipts are 8,992 tons (daily), up 770 tons [2]. Profit Estimation - The cash cost of外购锂辉石精矿 is 95,626 yuan/ton, with a profit of - 2,534 yuan/ton; the cash cost of外购锂云母精矿 is 94,173 yuan/ton, with a profit of - 3,390 yuan/ton [3]. Industry News - The new energy storage installed capacity in China exceeds 100 million kilowatts, 30 times that at the end of the 13th Five - Year Plan, accounting for over 40% of the global total installed capacity. During the peak summer period this year, the peak call of new energy storage exceeded 30 million kilowatts [3]. - This week, lithium carbonate production decreased by 265 tons and inventory decreased by 2,452 tons [3].