碳酸锂：情绪扰动为主，关注底部支撑

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View - The report focuses on the lithium carbonate market, with the title indicating that the current situation is mainly affected by emotional factors, and attention should be paid to the bottom support [1] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Data: The 2605 contract's closing price was 150,860, down 21,160 from T - 1; the 2607 contract's closing price was 151,380, down 21,420 from T - 1. The 2605 contract's trading volume was 445,115, and the 2607 contract's trading volume was 64,513. The 2605 contract's open interest was 339,604, and the 2607 contract's open interest was 99,718 [2] - Warehouse Receipts: The warehouse receipt volume was 37,755, down 441 from T - 1 [2] - Basis: The basis between spot and 2605 contract was 10,140; the basis between 2605 and 2607 contracts was -520 [2] - Raw Materials: The price of spodumene concentrate (6%, CIF China) was 2,220, down 140 from T - 1; the price of lithium mica (2.0% - 2.5%) was 5,350, down 175 from T - 1 [2] - Lithium Salts: The price of battery - grade lithium carbonate was 161,000, down 11,500 from T - 1; the price of industrial - grade lithium carbonate was 157,500, down 11,500 from T - 1 [2] - Related Products: The price of lithium iron phosphate (power type) was 56,205, down 2,785 from T - 1; the price of ternary material 523 (polycrystalline/consumer type) was 190,500, down 3,750 from T - 1 [2] 3.2 Macro and Industry News - Automobile Subsidy Policy: The Shenzhen Municipal Bureau of Commerce issued the "Implementation Guidelines for the 2026 Automobile Replacement and Upgrade Subsidy in Shenzhen". For individuals who transfer their registered passenger cars and purchase new - energy passenger cars in the "Catalogue of New - energy Vehicle Models Exempted from Vehicle Purchase Tax" or fuel - powered passenger cars with a displacement of 2.0 liters or less, one - time subsidies are provided. For new - energy passenger cars, an 8% subsidy of the new car's selling price is given, with a maximum of 15,000 yuan; for fuel - powered passenger cars, a 6% subsidy of the new car's selling price is given, with a maximum of 13,000 yuan [3][4] - Company Project News: Yongtai Technology plans to invest 500 million yuan to build a 200,000 - ton lithium - battery electrolyte project in Binhai Coastal Industrial Park. At the same time, the company cancelled the construction of a 200,000 - ton electrolyte and related materials and by - product recycling project of its subsidiary, Shaowu Yongtai High - tech Materials Co., Ltd [4] 3.3 Trend Intensity - The trend intensity of lithium carbonate is 0, indicating a neutral view. The trend intensity ranges from -2 (most bearish) to 2 (most bullish) [4]