碳酸锂日报：碳酸锂走弱-20251203

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The price of lithium carbonate is weakening. The futures market shows a downward trend, while the spot market has an upward trend in the past 10 trading days. The supply expectation is strengthening [4][5]. 3. Summary by Related Catalogs 3.1 Summary of the Abstract - The closing price of the main futures contract LC2605.GFE was 93,660 yuan/ton, a decrease of 2,900 yuan/ton (-3.00%) from the previous day, showing a downward trend in the past 10 trading days [5]. - The spot price of lithium carbonate was 94,290 yuan/ton, a decrease of 0.18% from the previous day, showing an upward trend in the past 10 trading days [5]. - The current basis was -610 points, indicating a negative basis (spot discount), strengthening by 1,310 points from the previous day, and overall strengthening in the past 10 trading days [5]. - The registered warehouse receipt volume of lithium carbonate was 9,652 lots, an increase of 660 lots (+7.34%) from the previous day, showing an overall decrease in the past 10 trading days [5]. - The supply expectation is strengthening [5]. 3.2 Summary of the Industry Dynamics - Futures Market: The closing price of the main futures contract was 93,660 yuan/ton, down 2,900 yuan/ton from the previous day and 2,680 yuan/ton from the previous week. The settlement price was 94,900 yuan/ton, down 1,480 yuan/ton from the previous day and 2,560 yuan/ton from the previous week [7]. - Lithium Concentrate: Australian CIF6 China lithium concentrate was priced at 1,190 - 1,230 US dollars/ton, with a price change of 0 - 10 US dollars/ton compared to the previous day and 10 - 10 US dollars/ton compared to the previous week. Brazilian CIF6 China lithium concentrate was priced at 1,170 - 1,210 US dollars/ton, with a price change of -10 - 10 US dollars/ton compared to the previous day and 10 - 10 US dollars/ton compared to the previous week. Zimbabwe CIF6 China lithium concentrate was priced at 1,160 - 1,190 US dollars/ton, with a price change of 0 - 10 US dollars/ton compared to the previous day and 10 - 10 US dollars/ton compared to the previous week. Malian CIF6 China lithium concentrate was priced at 880 - 940 US dollars/ton, with no price change compared to the previous day and a change of 30 - 30 US dollars/ton compared to the previous week [7]. - Lithium Mica: The average price of lithium mica in the Chinese market varied depending on the Li2O content, with no price change for most grades compared to the previous day and different increases compared to the previous week [7]. - Lithium Carbonate and Lithium Hydroxide: The price of domestic 99.5% electric lithium carbonate was 94,290 yuan/ton, down 170 yuan/ton from the previous day and up 1,470 yuan/ton from the previous week. The price of domestic 56.5% lithium hydroxide was 82,620 yuan/ton, with no price change from the previous day and an increase of 1,270 yuan/ton from the previous week [7]. - Downstream Products: The prices of some downstream products such as ternary precursors, ternary materials, and electrolyte showed different trends, with some remaining stable and some having small price changes [7]. 3.3 Summary of the Related Charts - Ore and Lithium Prices: The charts show the price changes of lithium mica, lithium carbonate futures, lithium carbonate spot, lithium hydroxide, basis, and the price difference between lithium hydroxide and lithium carbonate [9]. - Cathode & Ternary Materials: The charts present the price changes of manganese - acid lithium, lithium iron phosphate, cobalt - acid lithium, ternary precursors, and ternary materials [11][12][14]. - Trading Volume, Open Interest, and Warehouse Receipts: The charts display the changes in the trading volume, open interest of the main lithium carbonate futures contract, and the registered warehouse receipt volume of lithium carbonate [16][17].