补库需求支撑，碳酸锂价格尾盘收涨

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The price of lithium carbonate showed resilience and closed higher in the late trading, indicating that the short - term supply - demand tight balance will continue. The low downstream inventory and pre - holiday restocking demand support the price. However, there is a game between the short - term "strong reality" and long - term "weak expectation", and the price may be prone to correction if supply recovers or demand is overdrawn [1][2][3] 3. Summary by Relevant Catalogs Market Analysis - On January 27, 2026, the lithium carbonate main contract 2605 opened at 166,700 yuan/ton and closed at 179,600 yuan/ton, with a 1.50% change in the closing price compared to the previous day's settlement price. The trading volume was 382,313 lots, and the open interest was 422,433 lots (416,719 lots the previous day). The current basis was 1,360 yuan/ton, and the lithium carbonate warehouse receipts were 29,166 lots, a change of 520 lots compared to the previous day [1] Spot Market - According to SMM data, the price of battery - grade lithium carbonate was 168,000 - 177,000 yuan/ton, a change of - 9,000 yuan/ton compared to the previous day; the price of industrial - grade lithium carbonate was 165,000 - 173,000 yuan/ton, also a change of - 9,000 yuan/ton. The price of 6% lithium concentrate was 2285 US dollars/ton, a change of - 10 US dollars/ton compared to the previous day. The total weekly output of lithium carbonate was 22,217 tons, a decrease of 388 tons compared to the previous week [2] Inventory - The spot inventory was 108,896 tons, a decrease of 783 tons compared to the previous period. Among them, the smelter inventory was 19,834 tons, an increase of 107 tons; the downstream inventory was 37,592 tons, an increase of 1,940 tons; other inventories were 51,470 tons, a decrease of 2,830 tons [2] Strategy - There is a game between short - term "strong reality" and long - term "weak expectation". The current price increase depends on supply disruptions and pre - demand. If supply recovers or demand is overdrawn, the price is likely to correct. It is recommended to mainly conduct range operations, pay attention to consumption and inventory turning points, and consider selling hedges at high prices when appropriate. For single - side trading, conduct short - term range operations [3]