碳酸锂周报：碳酸锂市场强势突破，供应扰动与库存去化共振-20260303

Report Title - The lithium carbonate market has strongly broken through, with supply disruptions and inventory destocking resonating - Lithium Carbonate Weekly Report (February 24 - February 27, 2026) [1] 1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The current market is in a unilateral upward trend driven by supply disruptions and inventory destocking. The core contradiction lies in the resonance between the short - term contraction expectation of the supply side (raw material policy disruptions, smelter maintenance) and the resilience of the demand side (energy storage support, post - holiday restocking), which drives the price to strongly break through. However, it is necessary to be vigilant about the supply pressure that may be brought by the concentrated resumption of production of smelters and the increase in imports in March after the rapid price increase [2] 3. Summary According to Relevant Catalogs 3.1 Lithium Salt Market Introduction - Lithium Salt Price Changes: The lithium carbonate futures price decreased by 100.00% from 176,040 to 0; the lithium carbonate spot price (electro - carbon) decreased by 100.00% from 174,100 to 0, and the lithium carbonate spot price (industrial carbon) decreased by 100.00% from 171,500 to 0. The prices of other lithium salts also showed a 100.00% decrease [4] - Lithium Salt Premium Changes: The weekly changes in the premiums of different raw materials and enterprises have changed. For example, the premium of the pyroxene raw material has increased by 500, and the premium of Ganfeng Lithium has increased by 100 [7] 3.2 Lithium Salt Fundamentals 3.2.1 Supply - China's Lithium Carbonate Production: Not detailed in the provided content - Production in Each Production Area: Not detailed in the provided content - Production from Each Raw Material Source: Not detailed in the provided content - China's Lithium Hydroxide Production: Not detailed in the provided content 3.2.2 Demand - Mid - and Down - stream Consumption: Not detailed in the provided content 3.2.3 Import and Export - Lithium Ore Import: The port lithium ore traders' available inventory decreased by 8.67% week - on - week to 137,000 tons, reflecting the tight supply of imported raw materials. If Zimbabwe's export policy is implemented, it will further affect future imports [2] - Lithium Ore Transportation: The weekly freight rates of lithium ore transportation from South Africa, Zimbabwe, and Nigeria in both bulk and container forms decreased by 100.00% [27] - Lithium Ore Transportation Cost: The weekly freight rates of lithium ore transportation from South Africa, Zimbabwe, and Nigeria in both bulk and container forms decreased by 100.00% [27] - Lithium Carbonate Import and Export: Not detailed in the provided content - Seasonal Changes in Import and Export: Not detailed in the provided content - Lithium Hydroxide Import and Export: Not detailed in the provided content 3.2.4 Inventory - Lithium Carbonate Social Inventory: The social inventory decreased by 2,839 tons to around 100,000 tons this week, verifying the tightening supply - demand pattern [2] - Lithium Carbonate Warehouse Receipts: The total number of lithium carbonate warehouse receipts decreased from 38,461 to 0, with significant decreases in each warehouse [40] 3.2.5 Cost and Profit - Lithium Carbonate Cost and Profit: The production cost of externally purchased lithium concentrate increased by 16.83% week - on - week to 182,296 yuan/ton, higher than the current spot price, resulting in a theoretical profit of - 8,196 yuan/ton for the externally purchased concentrate route, with strong cost support [2] 3.3 Lithium Battery Fundamentals 3.3.1 Market - Cathode Material Market: Not detailed in the provided content 3.3.2 Supply - Cathode Material Production: Not detailed in the provided content - Electrolyte Price and Production: Not detailed in the provided content 3.3.3 Demand - Cathode Material Consumption: Not detailed in the provided content 3.3.4 Import and Export - Lithium Battery Material Import and Export: Not detailed in the provided content - Battery Import and Export: Not detailed in the provided content 3.3.5 Cost and Profit - Ternary Material Cost and Profit: Not detailed in the provided content 3.3.6 Lithium Battery Recycling - Not detailed in the provided content 3.3.7 New Energy Vehicles - Production and Sales: Not detailed in the provided content - Other Important Data: Not detailed in the provided content