Report Information - Report Title: Carbonate Lithium Futures Daily Report [1] - Date: December 30, 2025 [2] - Researcher Team: Non - ferrous Metals Research Team [4] - Researchers: Zhang Ping, Yu Feifei, Peng Jinglin [3] 1. Report Industry Investment Rating No relevant content provided. 2. Report's Core View - The lithium price first rose and then fell, with the main contract almost hitting the daily limit at the end of the session but opening before the close. The total open interest decreased by 94,439 lots, and the spread between LC2605 and LC2601 narrowed to 840. The price of high - quality battery - grade carbonate lithium dropped by 3,100 to 119,300, and the spot became at a premium to LC2601. As the delivery month approaches, the linkage between futures and spot strengthens. The prices of Australian ore, lithium mica, and cathode materials increased, while the price of electrolyte remained flat. The increase in maintenance of lithium iron phosphate manufacturers, high lithium prices, and the four - week decline in power battery weekly output led to more maintenance in cathode plants and weakened demand, which dragged down the lithium price. In the short term, the futures price has approached the spot price, and with the futures - spot linkage, the spot support is gradually emerging. It is expected that the decline of lithium price will slow down [12]. 3. Summary by Directory 3.1 Market Review and Operation Suggestions - Carbonate lithium price showed a trend of rising first and then falling, with the main contract almost hitting the daily limit at the end of the session. The total open interest decreased by 94,439 lots, and the 05 - 01 spread narrowed to 840. The price of high - quality battery - grade carbonate lithium dropped by 3,100 to 119,300, and the spot became at a premium to LC2601. The prices of Australian ore, lithium mica, ternary materials, and lithium iron phosphate increased, while the price of electrolyte remained flat. The increase in maintenance of lithium iron phosphate manufacturers and the decline in power battery output led to weakened demand and dragged down the lithium price. In the short term, the futures price has approached the spot price, and the decline of lithium price is expected to slow down [12]. 3.2 Industry News - Chilean state - owned copper miner Codelco and Chilean chemical company SQM reached a milestone cooperation agreement to expand lithium mining in the Atacama Desert. They merged their subsidiaries to form NovaAndino Litio SpA. SQM transferred its mining concessions for the Salar de Maricunga salt lake to Codelco. NovaAndino Litio will control all lithium exploration, production, and sales in the Atacama salt flat until 2060 [13]. - CME Group announced on December 26 that it would raise the performance margins for gold, silver, lithium, and other metal futures contracts after the close on December 29, aiming to cope with market fluctuations and ensure sufficient collateral coverage [13][14].
建信期货碳酸锂期货日报-20251230
Jian Xin Qi Huo·2025-12-30 01:58