碳酸锂数据日报-20251224

Report Industry Investment Rating - No information provided Core View of the Report - The crackdown on illegal mining of mineral resources by the Work Safety Committee Office of the State Council has further catalyzed bullish sentiment. Coupled with the market's re - pricing of the delayed resumption time of lithium mines, it has triggered a rise in lithium carbonate futures prices. Based on the destocking logic caused by the mismatch between supply and demand in the fundamentals, it is expected that the futures price will maintain a bullish trend [3] Summary According to Relevant Catalogs Lithium Compounds - The average price of SMM battery - grade lithium carbonate is 99,500 yuan/ton, with a change of 500 yuan; the average price of SMM industrial - grade lithium carbonate is 96,850 yuan/ton, with a change of 500 yuan [1] Lithium Ore - The price of lithium spodumene concentrate (CIF China) (Li20: 5.5% - 6%) is 1,404 yuan, with a change of 26 yuan [1] - The price of lithium mica (Li20: 1.5% - 2.0%) is 125 yuan; the price of lithium mica (Li20: 2.0% - 2.5%) is 3,125 yuan, with a change of 205 yuan; the price of amblygonite (Li20: 6% - 7%) is 11,425 yuan, with a change of 575 yuan; the price of amblygonite (Li20: 7% - 8%) is 12,875 yuan, with a change of 575 yuan [2] Cathode Materials - The average price of lithium iron phosphate (power - type) is 40,735 yuan, with a change of 122.5 yuan; the average price of ternary material 811 (polycrystalline/power - type) is 164,700 yuan, with a change of 300 yuan; the average price of ternary material 523 (single - crystal/power - type) is 147,300 yuan, with a change of 200 yuan; the average price of ternary material 613 (single - crystal/power - type) is 147,100 yuan, with a change of 300 yuan [2] Price Spreads - The price spread between battery - grade and industrial - grade lithium carbonate is 2,650 yuan, with a change of 0 yuan; the price spread between battery - grade lithium carbonate and the main contract is - 20,860 yuan, with a change of - 5,480 yuan; the price spread between the near - month and the first - continuous contract is - 160 yuan, with a change of - 100 yuan; the price spread between the near - month and the second - continuous contract is - 320 yuan, with a change of - 20 yuan [2] Inventory - The total inventory (weekly, tons) is 110,425 tons, with a change of - 1,044 tons; the inventory of smelters (weekly, tons) is 18,090 tons, with a change of - 1,071 tons; the inventory of downstream (weekly, tons) is 41,485 tons, with a change of - 1,253 tons; the inventory of others (weekly, tons) is 50,850 tons, with a change of 1,280 tons; the registered warehouse receipts (daily, tons) is 16,651 tons, with a change of 112 tons [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate externally is 107,766 yuan, and the profit is - 10,149 yuan; the cash cost of purchasing lithium mica concentrate externally is 103,138 yuan, and the profit is - 7,988 yuan [3]