碳酸锂日报：碳酸锂小幅下跌-20251209

Report Summary 1. Industry Investment Rating No information provided regarding the industry investment rating. 2. Core View On December 9, 2025, the price of lithium carbonate slightly declined. The futures market showed a downward trend, the spot market was volatile, the negative basis strengthened, the registered warehouse receipts decreased, and the support from the energy storage field for prices weakened marginally [4]. 3. Summary by Directory 3.1 Industry Dynamics - Futures Market: The closing price of the main contract LC2605.GFE was 92,800 yuan/ton, down 2,040 yuan/ton (-2.15%) from the previous day, and down 3,760 yuan/ton compared to five trading days ago. The settlement price was 93,580 yuan/ton, down 380 yuan/ton from the previous day and 2,800 yuan/ton from five trading days ago [4][6]. - Lithium Ore Prices: The prices of various lithium ores such as Australian, Brazilian, and other countries' CIF China lithium spodumene concentrates increased slightly compared to the previous day, but decreased compared to five trading days ago. The prices of lithium mica remained unchanged from the previous day but decreased compared to five trading days ago [6]. - Lithium Salt Prices: The price of domestic 99.5% electric-grade lithium carbonate was 92,710 yuan/ton, unchanged from the previous day but down 1,750 yuan/ton compared to five trading days ago. The price of domestic 56.5% lithium hydroxide was 81,890 yuan/ton, unchanged from the previous day but down 730 yuan/ton compared to five trading days ago [6]. - Downstream Product Prices: The prices of most downstream products such as ternary precursors, ternary materials, and electrolytes remained unchanged from the previous day and five trading days ago [6]. 3.2 Related Charts - Ore and Lithium Prices: Charts showed the price changes of lithium mica, lithium carbonate futures, lithium carbonate, lithium hydroxide, lithium carbonate basis, and lithium hydroxide - lithium carbonate price difference [8]. - Cathode & Ternary Materials: Charts presented the price changes of manganese - acid lithium, domestic iron - phosphate lithium, cobalt - acid lithium, ternary precursors, and ternary materials [10][14]. - Other Related Data of Lithium Carbonate Futures: Charts showed the changes in the trading volume, open interest, and registered warehouse receipts of the lithium carbonate main contract [16][17].