南华期货碳酸锂数据日报-20251225

1. Report Industry Investment Rating No relevant content provided. 2. Core View of the Report No explicit core view is presented in the given content. The report mainly provides a comprehensive set of data on the lithium carbonate and lithium hydroxide futures and spot markets, including price, volume, and inventory data. 3. Summary by Related Catalogs 3.1 Futures Data - The closing price of the main lithium carbonate futures contract was 123,520 yuan/ton, down 1,200 yuan (-0.96%) daily but up 17,360 yuan (16.35%) weekly. The trading volume was 924,823 lots, down 24,183 lots (-2.55%) daily and 89,093 lots (-8.79%) weekly, and the open interest was 607,187 lots, down 40,179 lots (-6.21%) daily and 65,524 lots (-9.74%) weekly [3]. - The closing price of the weighted - index contract was 123,776 yuan/ton, down 926 yuan (-0.74%) daily but up 17,683 yuan (16.67%) weekly. The trading volume was 1,532,681 lots, up 190,899 lots (14.23%) daily and 221,433 lots (16.89%) weekly, and the open interest was 1,072,674 lots, down 2,555 lots (-0.24%) daily but up 6,443 lots (0.60%) weekly [3]. - For different contract spreads, e.g., LC2601 - LC2605 was - 1,980 yuan/ton, with daily and weekly changes of - 20 yuan (1.02%) and - 260 yuan (15.12%) respectively [3]. - The Guangzhou Futures Exchange's lithium carbonate warehouse receipts were 17,101 lots, unchanged daily but up 1,465 lots (9.37%) weekly [3]. 3.2 Spot Data - In the lithium ore market, the average price of lithium mica (2 - 2.5%) was 3,265 yuan/ton, up 55 yuan (1.71%) daily; lithium spodumene (3 - 4%) was 6,405 yuan/ton, up 55 yuan (0.87%) daily; and lithium spodumene (5 - 5.5%) was 10,590 yuan/ton, up 90 yuan (0.86%) daily [18]. - In the lithium salt market, the average price of industrial - grade lithium carbonate was 102,250 yuan/ton, up 3,400 yuan (3.44%) daily; battery - grade lithium carbonate was 104,900 yuan/ton, up 3,400 yuan (3.35%) daily; and industrial - grade lithium hydroxide was 88,430 yuan/ton, up 3,400 yuan (4.00%) daily [18]. - Regarding price spreads, the difference between battery - grade and industrial - grade lithium carbonate was 2,650 yuan/ton, unchanged daily but up 50 yuan (1.92%) weekly; the difference between battery - grade lithium carbonate and battery - grade lithium hydroxide was 10,620 yuan/ton, down 100 yuan (-0.93%) daily and 950 yuan (-8.21%) weekly [22]. 3.3 Basis and Warehouse Receipt Data - The basis quotes of different lithium carbonate brands for the LC2601 contract varied, e.g., Shengxin Lithium Energy was - 1,900 yuan/ton, down 100 yuan; Tianqi Lithium was - 1,700 yuan/ton, down 100 yuan [30]. - The total number of lithium carbonate warehouse receipts was 17,101 lots, unchanged from the previous day. Some warehouses had no change in receipts, while Yichun Yinli decreased by 300 lots, and Shanghai Guochu decreased by 13 lots [32]. 3.4 Cost and Profit - The production profit of lithium carbonate from purchased lithium spodumene concentrate (Li₂O:6%) and lithium mica concentrate (Li₂O:2.5%) showed certain trends over time, as presented in the graph [34]. - The production profit of lithium hydroxide by causticization and smelting methods also had corresponding trends over the period from December 24 to October 25 [34]. - The theoretical delivery profit of lithium carbonate, as well as the export profit of lithium hydroxide and the import profit of lithium carbonate, were also presented in graphical form, showing their trends over time [36][38].