碳酸锂日报（2026年2月10日）-20260210

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints of the Report - On February 9, 2026, the lithium carbonate futures 2605 rose 3.55% to 137,000 yuan/ton. The average price of battery-grade lithium carbonate increased by 1,000 yuan/ton to 135,500 yuan/ton, and the average price of industrial-grade lithium carbonate increased by 1,000 yuan/ton to 132,000 yuan/ton. The battery-grade lithium hydroxide (coarse particles) rose 500 yuan/ton to 133,000 yuan/ton. The warehouse receipt inventory increased by 820 tons to 34,597 tons [2]. - In terms of supply, the weekly production decreased by 825 tons to 20,744 tons. In February, the production schedule of battery-grade lithium carbonate decreased by 17.6% to 58,835 tons, and that of industrial-grade lithium carbonate decreased by 12.7% to 23,095 tons. On the demand side, the production schedule of ternary materials in February decreased by 14.6% to 69,250 tons, and that of lithium iron phosphate decreased by 10.7% to 354,000 tons. In terms of inventory, the weekly social inventory of lithium carbonate decreased by 2,019 tons to 105,463 tons [2]. - Affected by market sentiment, the previous lithium carbonate futures prices dropped sharply. If the price runs strongly in the short term, actual purchases may turn cold, dragging down the price. The shipment data from Chile in January increased significantly month-on-month, but it was due to the Spring Festival factor, and the quantity is unsustainable. The significant supply pressure on China may be reflected after the Spring Festival. After the festival, the continuous decline in inventory levels may become a significant bullish support. Rationally, there is a lack of more definite bullish boosts in the short-term market, and market sentiment is also chaotic. It is more advisable to pay attention to trading opportunities after the volatility decreases [2]. Group 3: Summary According to Relevant Catalogs 2. Daily Data Monitoring - Futures: The closing price of the main contract was 137,000 yuan/ton, up 4,080 yuan from February 6; the closing price of the continuous contract was 136,340 yuan/ton, up 8,740 yuan [4]. - Lithium ore: The price of lithium spodumene concentrate (6%, CIF China) was 1,897 US dollars/ton, up 17 US dollars; the prices of lithium mica and phospho-lithium-aluminum stone remained unchanged [4]. - Lithium carbonate and lithium hydroxide: The prices of battery-grade and industrial-grade lithium carbonate increased by 1,000 yuan/ton, and the prices of various types of lithium hydroxide increased by 500 yuan/ton, except for the unchanged price of battery-grade lithium hydroxide (CIF China, Japan, and South Korea) [4]. - Lithium hexafluorophosphate: The price was 125,000 yuan/ton, down 1,000 yuan [4]. - Price spreads: The price spread between battery-grade and industrial-grade lithium carbonate remained unchanged; the price spread between battery-grade lithium hydroxide and battery-grade lithium carbonate decreased by 500 yuan/ton; other price spreads also changed to varying degrees [4]. - Precursor and cathode materials: The prices of most precursor and cathode materials remained unchanged, while the prices of some ternary materials and lithium iron phosphate increased slightly [4]. - Batteries: The prices of most batteries remained unchanged, while the price of the 523 cylindrical ternary battery increased by 0.1 yuan [4]. 3. Chart Analysis - Ore prices: Charts show the price trends of lithium spodumene concentrate, lithium mica, and phospho-lithium-aluminum stone from 2024 to 2026 [5][8]. - Lithium and lithium salt prices: Charts display the price trends of metal lithium, battery-grade and industrial-grade lithium carbonate, battery-grade and industrial-grade lithium hydroxide, and lithium hexafluorophosphate from 2024 to 2026 [11][13][17]. - Price spreads: Charts present the price spreads between battery-grade lithium hydroxide and battery-grade lithium carbonate, battery-grade and industrial-grade lithium carbonate, etc., from 2024 to 2026 [19][21]. - Precursor and cathode materials: Charts show the price trends of ternary precursors, ternary materials, lithium iron phosphate, manganese acid lithium, and cobalt acid lithium from 2024 to 2026 [26][28][30]. - Lithium battery prices: Charts display the price trends of 523 square ternary cells, square lithium iron phosphate cells, cobalt acid lithium cells, and square lithium iron phosphate batteries from 2024 to 2026 [32][35]. - Inventory: Charts show the inventory trends of downstream, smelters, and other links from June 19, 2025, to February 5, 2026 [37][40]. - Production cost: The chart shows the production profit trends of lithium carbonate from different raw materials from 2024 to February 2026 [41].