碳酸锂数据日报-20251204

Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core Viewpoints of the Report - The prices of battery - grade and industrial - grade lithium carbonate, lithium ore, and cathode materials are generally in a declining trend [1][2]. - This week, lithium carbonate production decreased by 265 tons and inventory decreased by 2452 tons [3]. - Currently, the market's core focus is on demand changes. Weekly demand is basically stable, providing support for prices. In the medium - term, due to the release of energy storage demand, prices tend to rise, but there is downward pressure on prices in the short - term [3]. 3. Summary by Related Catalogs Lithium Compounds - The average price of SMM battery - grade lithium carbonate is 94,350 yuan/ton, down 50 yuan; the average price of SMM industrial - grade lithium carbonate is 91,900 yuan/ton, down 50 yuan [1]. - The closing prices of lithium carbonate futures contracts from 2512 to 2604 all showed declines, with a maximum decline of 2.76% [1]. Lithium Ore - Lithium ore prices are generally falling. For example, the price of lithium spodumene concentrate (CIF China) is 1180 yuan/ton, down 4 yuan [1]. Cathode Materials - The average price of lithium iron phosphate (power type) is 39,485 yuan/ton, down 15 yuan; the average price of ternary material 811 (polycrystalline/power type) is 161,700 yuan/ton, down 100 yuan [2]. Price Differences - The difference between battery - grade and industrial - grade lithium carbonate is 2450 yuan/ton, with a change of - 1 yuan [2]. - The difference between battery - grade lithium carbonate and the main contract is 690 yuan/ton, with a change of 2850 yuan [2]. Inventory - The total inventory (weekly, tons) is 115,968 tons, a decrease of 2452 tons; downstream inventory (weekly, tons) is 41,984 tons, a decrease of 2452 tons; other inventory (weekly, tons) is 49,660 tons, an increase of 1780 tons; registered warehouse receipts (daily, tons) is 9652 tons, an increase of 112 tons [2]. Profit Estimation - The cash cost of externally purchased lithium spodumene concentrate is 95,330 yuan/ton, and the profit is - 2287 yuan/ton; the cash cost of externally purchased lithium mica concentrate is 93,827 yuan/ton, and the profit is - 3093 yuan/ton [3]. Industry News - The new energy storage installed capacity in China exceeds 100 million kilowatts, 30 times more than that at the end of the "13th Five - Year Plan", accounting for over 40% of the global total installed capacity [3]. - The market expects that the mining permit for Ningde Times' Xiakeng Mine will be issued in mid - January at the latest, and possibly in December at the earliest, and its impact on prices will gradually decrease [3].