碳酸锂走弱：碳酸锂日报-20260114

Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core View The report indicates that the price of lithium carbonate is weakening. The futures and spot prices of lithium carbonate, along with related indicators such as basis, registered warehouse receipts, and supply - demand relationships, are analyzed [4][5]. 3. Summary by Directory 3.1 Abstract - Futures market: The closing price of the main contract LC2605.GFE was 161,940 yuan/ton, down 5,040 yuan/ton from the previous day, showing an upward trend in the past 10 trading days [5]. - Spot market: The spot price of lithium carbonate was 163,050 yuan/ton, up 2.15% from the previous day, also showing an upward trend in the past 10 trading days [5]. - Basis analysis: The current basis was - 2,330 points (spot discount), 5,910 points stronger than the previous day, with the basis fluctuating in the past 10 trading days [5]. - Warehouse receipts: The number of registered warehouse receipts for lithium carbonate was 27,158 lots, an increase of 260 lots (+0.97%) from the previous day, showing an overall increase in the past 10 trading days [5]. - Supply - demand relationship: Some domestic lithium salt production lines are undergoing seasonal maintenance [5]. 3.2 Industry Dynamics - Futures: The closing price of the main contract was 161,940 yuan/ton, down 5,040 yuan/ton from the previous day and up 19,640 yuan/ton from 5 trading days ago; the settlement price was 165,380 yuan/ton, down 2,480 yuan/ton from the previous day and up 23,860 yuan/ton from 5 trading days ago [7]. - Lithium spodumene: The prices of Australian, Brazilian, Zimbabwean, and Malian CIF6 China lithium spodumene concentrates, as well as South African CIF China lithium spodumene ore, have different price ranges and changes compared with the previous day and 5 trading days ago [7]. - Lithium mica: The prices of lithium mica with different Li2O contents in the Chinese market have increased compared with the previous day and 5 trading days ago [7]. - Lithium carbonate: The price of domestic 99.5% electric - grade lithium carbonate was 163,050 yuan/ton, up 3,430 yuan/ton from the previous day and up 29,520 yuan/ton from 5 trading days ago [7]. - Lithium hydroxide: The price of domestic 56.5% lithium hydroxide was 154,120 yuan/ton, up 3,560 yuan/ton from the previous day and up 30,060 yuan/ton from 5 trading days ago [7]. - Ternary materials and related products: The prices of some ternary precursors and materials have changed to varying degrees compared with 5 trading days ago, while some prices remained unchanged compared with the previous day [7]. - Downstream products: The price of cobalt acid lithium (≥60%, domestic) was 396,500 yuan/ton, up 3,500 yuan/ton from the previous day and up 11,500 yuan/ton from 5 trading days ago; the price of lithium hexafluorophosphate was 157,500 yuan/ton, unchanged from the previous day and down 25,000 yuan/ton from 5 trading days ago [7]. 3.3 Related Charts - Ore and lithium prices: There are charts showing the price changes of lithium mica, lithium carbonate futures, domestic 99.5% electric - grade lithium carbonate, lithium hydroxide, lithium carbonate basis, and lithium hydroxide - lithium carbonate price difference [9]. - Cathode & ternary materials: There are charts showing the prices of manganese acid lithium, domestic iron phosphate lithium, domestic cobalt acid lithium (≥60%), ternary precursors, and ternary materials [12]. - Other related data of lithium carbonate futures: There are charts showing the changes in the trading volume, open interest, and registered warehouse receipts of the lithium carbonate main contract [20].