碳酸锂：关税调整利好近期需求，偏强震荡

1. Report Industry Investment Rating - The report does not explicitly mention the industry investment rating [1] 2. Core Viewpoints - The tariff adjustment is beneficial to the short - term demand of lithium carbonate, and the market will fluctuate strongly [1] - The trend strength of lithium carbonate is 1, indicating a relatively strong trend [3] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - 2601 Contract - Closing price: 138,700 yuan, with a change compared to different time points (e.g., +1,700 compared to T - 1) [1] - Volume: 331, showing significant decreases compared to previous periods (e.g., - 323 compared to T - 1) [1] - Open interest: 2,374, with large declines compared to earlier times (e.g., - 1,302 compared to T - 1) [1] - 2605 Contract - Closing price: 143,420 yuan, with corresponding changes (e.g., - 1,580 compared to T - 1) [1] - Volume: 469,479, with various changes in different time intervals (e.g., - 185,345 compared to T - 1) [1] - Open interest: 510,874, showing some fluctuations (e.g., - 3,593 compared to T - 1) [1] - Other Data - Warehouse receipt volume: 25,360 hands, with a change of - 410 compared to T - 1 [1] - Basis data such as spot - 2601, spot - 2605, 2601 - 2605, etc., show different changes [1] - Raw material prices (lithium spodumene concentrate, lithium mica, etc.) and lithium salt prices (battery - grade lithium carbonate, industrial - grade lithium carbonate, etc.) all have price changes compared to previous periods [1] - Consumption - related product prices (ternary materials, lithium hexafluorophosphate, electrolyte, etc.) also have corresponding price fluctuations [1] 3.2 Macro and Industry News - SMM's battery - grade lithium carbonate index price is 138,842 yuan/ton, up 1,799 yuan/ton from the previous working day. The average price of battery - grade lithium carbonate is 140,000 yuan/ton, up 1,500 yuan/ton, and the average price of industrial - grade lithium carbonate is 136,500 yuan/ton, up 1,500 yuan/ton [2] - 30,000 tons of lithium concentrate produced from the Malibu Guni lithium mine of Hainan Mining arrived at Yangpu Port in Hainan. This marks the company's achievement of an integrated industrial chain and is the first new - energy mineral declared for entry at zero - tariff after Hainan's full - island customs closure [3] - From April 1, 2026, the VAT export tax rebate for photovoltaic and other products will be cancelled. From April 1, 2026, to December 31, 2026, the VAT export tax - rebate rate for battery products will be reduced from 9% to 6%, and it will be cancelled starting from January 1, 2027 [3]