碳酸锂行情日报： 上游材料集中检修，锂电库存或成关键

Market Overview - On December 26, the spot settlement guidance price for battery-grade lithium carbonate (99.5%) was 121,000 CNY/ton, an increase of 13,000 CNY/ton from the previous working day [1] - The settlement guidance price for battery-grade lithium hydroxide (56.5% coarse particles) was 96,000 CNY/ton, up by 5,400 CNY/ton from the previous working day [1] - The current spot market is tight, with some traders unable to supply due to futures hedging and year-end accounting, leading to a rapid increase in prices [1] Price Changes - The price changes for various lithium products on December 26 are as follows: - Lithium concentrate: 1,580 CNY/ton, up by 80 CNY/ton [2] - Battery-grade lithium carbonate: 12,100 CNY/ton, up by 1,300 CNY/ton [2] - Lithium hydroxide: 9,600 CNY/ton, up by 540 CNY/ton [2] - Lithium iron phosphate: 4,210 CNY/ton, up by 130 CNY/ton [2] - Ternary materials: 16,950 CNY/ton, unchanged [2] Market Sentiment - According to a survey by Xinluo Information, over 40% of companies are bullish about market trends for January 2026, while about 30% are stable [7] - Companies that are bearish believe that recent futures price increases have been excessive and somewhat detached from fundamentals [7] Industry Dynamics - As the new energy industry enters a new upward cycle, upstream companies are seeking more proactive pricing power [10] - The concentration of the lithium battery upstream market is relatively low compared to polysilicon and iron ore [10] - The global lithium battery inventory has remained stable over the past three months, with available days hovering around 40 days, while lithium iron phosphate inventory is relatively low at 12-13 days [10]