CATL(SZ:300750) 21世纪经济报道·2025-09-10 10:37Core Viewpoint - The domestic lithium carbonate futures market experienced a significant decline, with the main contract (2511) opening at 69,000 CNY/ton and ultimately closing down 4.87% at 70,720 CNY/ton, indicating a broader bearish sentiment in the market [1][2]. Market Performance - The lithium mining sector in A-shares saw notable declines, with Tianqi Lithium (002466.SZ) dropping 5%, and other companies like Jiangte Electric (002176.SZ) and Shengxin Lithium Energy (002240.SZ) falling over 4% [4]. - The trading volume for the main lithium carbonate futures contract was 751,500 lots, with a highest price of 71,000 CNY and a lowest price of 68,600 CNY [2]. Company Developments - CATL's subsidiary, Yichun Times New Energy Mining Co., has made progress in resuming operations at the Jiangxi Yichun Jiansha Wo lithium mine, with mining rights and permits advancing faster than the previously expected 3-6 month downtime [4]. - The Jiansha Wo mine is one of the largest lithium mica mines in the Yichun area, with a recoverable reserve of 77,492 million tons and an estimated service life of over 25 years based on an annual production capacity of 30 million tons [4][5]. Market Sentiment and Future Outlook - Market participants have reacted to the resumption news with excessive interpretation, leading to abnormal fluctuations in lithium carbonate futures prices, reflecting a spread of irrational market sentiment [5]. - Analysts predict that the lithium carbonate spot price will fluctuate between 69,000 and 73,000 CNY/ton in the coming month and a half, while a long-term price balance is expected to settle between 62,000 and 65,000 CNY/ton due to increased supply from overseas lithium mines and technological advancements in lithium salt production [6].