碳酸锂周报：碳酸锂市场巨幅震荡，供应收缩预期与累库担忧激烈博弈-20260225

Report Title - "Carbonate Lithium Weekly Report from February 2, 2026, to February 6, 2026: The Carbonate Lithium Market Experiences a Massive Shock, with Intense Game between Supply Contraction Expectations and Inventory Accumulation Concerns" [1] Report Industry Investment Rating - Not provided in the content Core Viewpoints - The market is in a stage of severe shock after a collapse from a high level. The core contradiction lies in the game between short - term supply contraction expectations (policy disturbances and maintenance) and medium - term supply increment pressure, as well as the conflict between structural demand support and seasonal weakening. The price rebounds after a sharp decline, but there is significant upward pressure. The market sentiment is unstable, and capital outflows exacerbate the volatility, presenting a bottom - seeking pattern dominated by bears [2] Summary by Directory Lithium Salt Market Introduction - Price Changes: The prices of carbonate lithium futures, spot carbonate lithium, and spot lithium hydroxide all dropped by 100% from last Friday to this Friday [4] - Premium Changes: The premiums of various raw materials and enterprises all changed to 0 this week, with positive week - on - week changes [7] Lithium Salt Fundamentals - Supply: - China's carbonate lithium production: Not detailed in the provided content - Output by production areas: Not detailed - Output by raw material sources: Not detailed - China's hydroxide lithium production: Not detailed - Demand: The downstream shows structural support, with the operating rate of energy - storage cells rising, but overall it faces the pressure of seasonal weakening during the Spring Festival. The downstream production schedule in February is expected to decline month - on - month, and the procurement of high - priced raw materials is cautious [2] - Imports and Exports: - Lithium ore imports: Not detailed - Lithium ore transportation: The weekly freight rates of bulk and container transportation from South Africa, Zimbabwe, and Nigeria all dropped by 100% [28] - Carbonate lithium: Not detailed - Seasonal changes: Not detailed - Hydroxide lithium: Not detailed - Inventory: - Carbonate lithium social inventory: Not detailed - Carbonate lithium warehouse receipts: The warehouse receipts in all listed warehouses decreased to 0 this week, with a total decrease of 38,759 [41] - Cost and Profit: Data on carbonate lithium cost and profit are temporarily unavailable. However, from the significant inversion of spot - futures prices and the rapid decline of futures prices, the upstream profit margin is being sharply compressed [2] Lithium Battery Fundamentals - Market: - Cathode materials: Not detailed - Supply: - Cathode material production: Not detailed - Electrolyte price and production: Not detailed - Demand: - Cathode material consumption: Not detailed - Imports and Exports: - Lithium battery materials: Not detailed - Batteries: Not detailed - Cost and Profit: - Ternary materials: Not detailed - Lithium Battery Recycling: Not detailed - New Energy Vehicles: - Production and sales: Not detailed - Other important data: Not detailed