碳酸锂数据日报-20251215

Report Industry Investment Rating - Not provided Core Viewpoints - The demand from the terminal (energy storage + new energy vehicles) remains strong during the peak season, the production schedule of the material end is basically flat, and the chain of social inventory movement from "upstream - downstream - terminal" is smooth. In terms of supply, the production schedule in December has a slight increase, and the tight spot supply of spodumene restricts the large - scale resumption of production on the supply side. Overall, demand provides medium - term support for the lower price of lithium carbonate, but there is significant pressure near the key level of 100,000 [3] Summary by Relevant Catalogs Lithium Compounds - SMM battery - grade lithium carbonate has an average price of 94,500 with a rise of 2,500; SMM industrial - grade lithium carbonate has an average price of 92,000 with a rise of 2,000 [1] Lithium Ore - Lithium spodumene concentrate (CIF China) has an average price of 1,220 with a rise of 10; lithium mica (Li20:1.5% - 2.0%) has an average price of 1,680 with a rise of 15; lithium mica (Li20:2.0% - 2.5%) has an average price of 2,605 with a rise of 15; phospho - lithium - aluminum stone (Li20:6% - 7%) has an average price of 9,175 with a rise of 115; phospho - lithium - aluminum stone (Li20:7% - 8%) has an average price of 10,450 with a rise of 175 [1][2] Cathode Materials - The average price of lithium iron phosphate (power type) is 39,520 with a rise of 240; the average price of ternary material 811 (polycrystalline/power type) is 162,350 with a rise of 250; the average price of ternary material 523 (single - crystal/power type) is 145,550 with a rise of 400; the average price of ternary material 613 (single - crystal/power type) is 145,250 with a rise of 300 [2] Price Spreads - The price spread between battery - grade and industrial - grade lithium carbonate is 2,500; the price spread between battery - grade lithium carbonate and the main contract is - 3,220 with a change of 2,160; the price spread between the near - month and the first - continuous contract is - 380 with a change of - 200; the price spread between the near - month and the second - continuous contract is - 240 with a change of 20 [2] Inventory - The total inventory (weekly, tons) is 111,469 with a decrease of 2,133; the inventory of smelters (weekly, tons) is 19,161 with a decrease of 1,606; the inventory of downstream (weekly, tons) is 42,738 with a decrease of 957; the inventory of others (weekly, tons) is 49,570 with an increase of 430; the registered warehouse receipts (daily, tons) is 15,050 with an increase of 300 [2] Profit Estimation - The cash cost of purchasing spodumene concentrate externally is 97,832, and the profit is - 4,649; the cash cost of purchasing lithium mica concentrate externally is 94,715, and the profit is - 3,869 [3] Industry News - The installed capacity of new - type energy storage in China has exceeded 100 million kilowatts, which is more than 30 times that at the end of the "13th Five - Year Plan" and accounts for more than 40% of the global total installed capacity. During the peak summer period this year, the peak call of new - type energy storage in China exceeded 30 million kilowatts [3]