1. Report Industry Investment Rating - No information provided in the report regarding the industry investment rating. 2. Core View of the Report - This week, the 01 contract showed an upward trend, with the opening price on Monday at 82,600 yuan/ton and the closing price on Friday at 87,360 yuan/ton, a weekly increase of 5.76%. It is expected that next week, the supply side will continue to increase production, the demand side will continue to grow, and costs will remain low. The market may experience a bullish and volatile adjustment [4][7]. 3. Summary by Relevant Catalogs 3.1 Review and Outlook - **Supply Side**: This week, the lithium carbonate production was 21,545 tons, higher than the historical average. Among them, lithium spodumene production was 12,904 tons, a 1.67% decrease from the previous period; lithium mica production was 2,941 tons, a 2.32% decrease; salt lake production was 3,555 tons, a 7.11% increase; and recycling production was 2,145 tons, a 3.13% increase [4]. - **Demand Side**: In October 2025, the demand for lithium carbonate was 126,961 physical tons, a month - on - month increase of 8.70%. The predicted demand for next month is 132,001 physical tons, a 3.97% increase. The export volume in October was 324 physical tons, a 14.57% increase, and the predicted export volume for next month is 454 physical tons, a 40.12% increase. In October, the production of power batteries, energy - storage batteries, and new energy vehicles all showed growth, and the inventory of dealers decreased, which supported the demand for lithium carbonate [5][6]. - **Cost Side**: The cost of externally purchased lithium spodumene concentrate was 84,346 yuan/ton, with a daily increase of 0.33%, resulting in a loss of 397 yuan/ton. The cost of externally purchased lithium mica was 87,365 yuan/ton, remaining unchanged, with a loss of 5,577 yuan/ton. The production cost at the recycling end was close to that of the ore end, and the production enthusiasm was average. The quarterly cash production cost at the salt lake end was 31,477 yuan/ton, significantly lower than that of the ore end, with sufficient profit margins and strong production motivation [6]. - **Inventory Side**: The smelter inventory was 28,270 tons, a 7.96% decrease; the downstream inventory was 48,772 tons, a 6.22% decrease; other inventories were 43,430 tons, a 5.34% increase; and the total inventory was 120,472 tons, a 2.80% decrease [7]. 3.2 Fundamental Analysis - **Supply - Lithium Ore**: The price, production, import, and self - sufficiency rate of lithium ore are presented in the report, along with the supply - demand balance sheet of lithium ore from October 2024 to October 2025 [16][18][20]. - **Supply - Lithium Carbonate**: The report shows the production, capacity, import, and supply - demand balance of lithium carbonate from different sources and time periods [22][27]. - **Supply - Lithium Hydroxide**: Information on the production capacity utilization rate, production, export, and supply - demand balance of lithium hydroxide is provided [29][31]. - **Lithium Compound Cost and Profit**: The cost, profit, and cost composition of various lithium compounds, including lithium spodumene concentrate, lithium mica concentrate, and recycled lithium, are analyzed [34][37][40]. - **Inventory**: The inventory of lithium carbonate and lithium hydroxide, including monthly and weekly data, is presented [42]. - **Demand - Lithium Battery**: The report shows the price, production, shipment, and export of lithium batteries, as well as the cost of battery cells [46][49]. - **Demand - Ternary Precursor**: The price, cost, production capacity utilization rate, production, and supply - demand balance of ternary precursors are analyzed [52][55]. - **Demand - Ternary Material**: Information on the price, cost, profit, production, and inventory of ternary materials is provided [58][60]. - **Demand - Iron Phosphate/Iron Phosphate Lithium**: The price, production cost, profit, production, export, and inventory of iron phosphate and iron phosphate lithium are presented [62][65]. - **Demand - New Energy Vehicle**: The production, sales, export, and sales penetration rate of new energy vehicles are analyzed, along with the inventory warning index and inventory index of dealers [70][74]. 3.3 Technical Analysis - This week, the main 01 contract showed an upward trend. The report provides the price and trading volume data of the LC main contract from October 15 to November 14, and it is expected that the market may experience a bullish and volatile adjustment next week [77][78].

Report Information - Report Title: Carbonate Lithium Futures Daily Report [1] - Date: November 14, 2025 [2] - Researcher: Zhang Ping, Yu Feifei, Peng Jinglin [3] Report Industry Investment Rating - Not provided Core View - Carbonate lithium futures' price and trading volume reached a new high this year, with strong capital gaming sentiment. The supply growth of carbonate lithium is minimal, and the high supply pressure earlier this year is easing. Demand is expected to remain strong, and with inventory depletion accelerating, the price of carbonate lithium is expected to continue rising [10]. Summary by Directory 1. Market Review and Operation Suggestions - Carbonate lithium's weekly production reached 21,545 tons, a slight increase of 9 tons from last week, showing a clear peak signal. The production from spodumene and mica decreased, while that from salt lakes and recycling increased. With winter approaching, salt - lake production is expected to decline, so supply growth is minimal [10]. - On the demand side, the electrolyte price remained high and flat this week. The upstream's willingness to ship decreased, while the downstream's purchasing intention continued to rise. The price of 6F kept strengthening, and the supply - demand in the electrolyte field continued to tighten. The prices of cathode materials all rose, with the 6 - series ternary increasing by 4,000 yuan/ton and lithium iron phosphate by 920 - 1,060 yuan/ton. The new - energy vehicle market in both commercial and passenger segments grew rapidly, and the energy - storage market had strong supply and demand. Carbonate lithium demand is expected to remain good this year [10]. - The social inventory of carbonate lithium decreased by 3,481 tons this week, and the inventory depletion speed continued to accelerate. Supported by demand, the spot price of carbonate lithium is approaching the futures price, and the price is expected to keep rising [10]. 2. Industry News - Global second - largest miner Rio Tinto has shelved its controversial Jadar lithium project in Serbia, which involves an investment of $2.95 billion. The project has faced local community opposition, political protests, and slow permit approval. This move aligns with the new CEO's strategy of simplifying operations and cutting costs [13]. - The lawsuit between Tianqi Lithium and Chilean chemical and mining company SQM over the "public - private partnership" issue has progressed. On the evening of November 12, the local Chilean court rejected Tianqi Lithium's lawsuit. Tianqi Lithium said it will comprehensively evaluate and may take further actions [14].

1. Report Industry Investment Ratings - Not mentioned in the provided content 2. Report Core Views Copper - Copper prices strengthened due to improved market risk appetite after China and the US agreed to conduct economic and trade consultations. In the short - term, China - US talks boosted market sentiment, the Fed may stop shrinking its balance sheet, and the COMEX - LME spread widened. Fundamentally, tight copper ore supply supports prices, and high copper prices moderately suppress downstream demand. The terminal demand has strong resilience. The main contract is expected to be supported at 84000 - 85000 [1]. Aluminum - The alumina market remains weak, with supply pressure and weak demand. The futures price is expected to continue to be under pressure, with the main contract oscillating between 2750 - 2950 yuan/ton. Aluminum prices showed a strong - oscillating trend. With stable supply, resilient demand, and declining inventory, the short - term Shanghai aluminum is expected to maintain a high - level oscillation, with the main contract in the range of 20700 - 21300 yuan/ton [3]. Aluminum Alloy - Casting aluminum alloy followed the aluminum price and showed a strong - oscillating trend. Cost support is prominent, but high inventory and policy uncertainty restrict price increases. The short - term ADC12 price is expected to maintain a strong - oscillating pattern, with the main contract in the range of 20200 - 20800 yuan/ton [4]. Zinc - Due to concerns about the LME zinc market squeeze and China - US economic and trade consultations, the Shanghai zinc price rebounded. The supply is loose, and the demand is not outstanding. The short - term price may rise due to macro - drivers but will likely oscillate without a clear inflection point in the supply - loose logic, with the main contract in the range of 21800 - 22800 [8]. Tin - Tin supply is tight, and demand is weak. The tin price continues to oscillate at a high level. If the supply in Myanmar recovers smoothly in the fourth quarter, the tin price may weaken; otherwise, it is expected to continue to run strongly [10]. Nickel - The nickel market is in a state of high - level oscillation. Macro - factors are temporarily stable, and the cost has support, but inventory accumulation restricts the upside space. The main contract is expected to oscillate in the range of 120000 - 126000 [12]. Stainless Steel - The stainless - steel market showed a low - level upward repair. Macro - factors may bring policy expectations. The supply pressure is increasing, and demand improvement is not obvious. The short - term market is expected to oscillate weakly, with the main contract in the range of 12600 - 13000 [14]. Lithium Carbonate - The lithium carbonate market showed a significant upward trend. The supply - demand gap exists in the peak season, and demand is optimistic. The short - term market is expected to run strongly, with the main contract in the range of 76000 - 82000 yuan/ton [16]. 3. Summary by Relevant Catalogs Copper Price and Basis - SMM 1 electrolytic copper price rose to 85490 yuan/ton, up 0.63% [1]. - The refined - scrap price difference increased by 7.02% to 3366 yuan/ton [1]. Fundamental Data - In September, electrolytic copper production decreased by 4.31% to 112.10 million tons, and imports increased by 26.50% to 33.43 million tons [1]. Aluminum Price and Spread - SMM A00 aluminum price rose to 21040 yuan/ton, up 0.29% [3]. - Alumina prices in various regions showed a downward trend [3]. Fundamental Data - In September, alumina production decreased by 1.74% to 760.37 million tons, and electrolytic aluminum production decreased by 3.16% to 361.48 million tons [3]. Aluminum Alloy Price and Spread - SMM aluminum alloy ADC12 price rose to 21200 yuan/ton, up 0.47% [4]. Fundamental Data - In September, the production of recycled aluminum alloy ingots increased by 7.48% to 66.10 million tons, and the production of primary aluminum alloy ingots increased by 4.43% to 28.30 million tons [4]. Zinc Price and Spread - SMM 0 zinc ingot price rose to 22100 yuan/ton, up 0.91% [8]. Fundamental Data - In September, refined zinc production decreased by 4.17% to 60.01 million tons, and imports decreased by 11.61% to 2.27 million tons [8]. Tin Spot Price and Basis - SMM 1 tin price decreased to 280000 yuan/ton, down 0.36% [10]. Fundamental Data - In September, tin ore imports decreased by 15.13% to 8714, and SMM refined tin production decreased by 31.71% to 10510 [10]. Nickel Price and Basis - SMM 1 electrolytic nickel price rose to 122150 yuan/ton, up 0.04% [12]. Fundamental Data - China's refined nickel production increased by 1.26% to 32200 in September, and imports decreased by 3.00% to 17010 [12]. Stainless Steel Price and Basis - The price of 304/2B (Wuxi Hongwang 2.0 coil) remained at 13000 yuan/ton [14]. Fundamental Data - In September, China's 300 - series stainless - steel crude - steel production (43 companies) increased by 0.38% to 182.17 million tons, and Indonesia's production increased by 0.36% to 42.35 million tons [14]. Lithium Carbonate Price and Basis - SMM battery - grade lithium carbonate average price rose to 74800 yuan/ton, up 0.61% [16]. Fundamental Data - In September, lithium carbonate production increased by 2.37% to 87260, and demand increased by 12.28% to 116801 [16].

Core Insights - Lithium carbonate futures prices reached the lowest point since July 2023 in late June 2025, with fluctuations influenced by "anti-involution" policies and production halts in Ningde Times [1] - Supply of lithium carbonate is growing rapidly, with domestic production in September reaching 87,260 tons, a 2% month-on-month increase and a 52% year-on-year increase [1] - Demand for lithium carbonate remains strong, driven by the production of battery materials, with significant increases in both lithium iron phosphate and ternary materials [3] Supply Analysis - The production of lithium carbonate from various raw materials showed mixed results: spodumene production increased by 5%, while lithium mica decreased by 15%, and salt lake production rose by 10% [1] - Cumulative lithium carbonate production from January to September reached 643,700 tons, a 42% year-on-year increase [1] - Despite potential disruptions in the Jiangxi Yichun mining area, new capacities from spodumene and salt lakes are expected to push October production close to 90,000 tons [1] Demand Analysis - The production of lithium iron phosphate in September was 356,800 tons, reflecting a 12.8% month-on-month and a 42% year-on-year increase, with expectations for continued growth in October [3] - Ternary material production in September was 75,000 tons, showing a 2.6% month-on-month and a 31.5% year-on-year increase [3] - The overall production of power batteries and other batteries in September increased by 50% year-on-year, with a cumulative increase of 44% from January to September [3] Inventory and Market Trends - As of last week, lithium carbonate weekly inventory stood at 132,700 tons, a decrease of 2,143 tons, indicating an accelerated destocking process [4] - The number of registered futures warehouse receipts for lithium carbonate has decreased significantly, suggesting improved demand from downstream and traders [4] - The futures market shows signs of a potential rebound, with the main contract price breaking through the upper range of 75,000 yuan/ton, indicating a possibility of continued upward movement [4]

Group 1 - In July, the profits of industrial enterprises above designated size decreased by 1.5% year-on-year, with the decline narrowing by 2.8 percentage points compared to June, marking two consecutive months of narrowing [1][6] - High-tech manufacturing profits shifted from a 0.9% decline in June to an 18.9% increase in July, significantly boosting the overall profit growth rate of industrial enterprises [1][6] - From August 1 to 24, the retail sales of new energy vehicles in the passenger car market reached 727,000 units, a year-on-year increase of 6% and a month-on-month increase of 7%, with a cumulative retail of 7.182 million units in 2023, up 27% year-on-year [1] Group 2 - The 10-year government bond yield rose to 1.7625%, with a net withdrawal of 236.1 billion yuan in the central bank's open market operations [2][9] - The manufacturing PMI for August in both the US and Eurozone rebounded above the critical point, indicating a potential for interest rate cuts by the Federal Reserve in September [2][9] - The real estate market continues to adjust, with second-hand housing prices in first-tier cities declining month-on-month, prompting the government to enhance macro policy effectiveness [2][9] Group 3 - The palm oil production in Malaysia is expected to increase by 3.03% from the same period last month, while exports are projected to rise significantly [3][25] - The dual-fuel market is experiencing a mixed trend, with iron and coke prices showing fluctuations amid stable demand and increasing inventory levels [3][23] Group 4 - The upcoming Shanghai Cooperation Organization summit will take place from August 31 to September 1, 2025, in Tianjin, where member states will sign the "Tianjin Declaration" and approve the "10-Year Development Strategy of the SCO" [5]

1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - The supply - side of lithium carbonate last week had a production of 17,268 tons, a 7.31% week - on - week decrease but higher than the historical average. The demand - side showed a decrease in inventories of sample enterprises of lithium iron phosphate and ternary materials. The cost - side had different profit and loss situations for different raw materials. The battery - grade lithium carbonate spot price on August 7th was 71,100 yuan/ton, with a basis of - 1,200 yuan/ton for the 11 - contract, indicating a bearish basis. Overall, the lithium carbonate market is affected by factors such as supply, demand, cost, and inventory, and the 2511 contract is expected to fluctuate in the range of 70,580 - 74,020 [8]. - The main logic is that capacity mismatch leads to strong supply and weak demand, and the downward trend is difficult to change. There are also some bullish factors like manufacturers' stop - production and reduction plans, and a decrease in imports from Chile, while bearish factors include continuous high supply from ore/salt lake ends and insufficient willingness of power battery end to take delivery [8][9][10][11]. 3. Summary by Relevant Catalogs 3.1 Daily Viewpoints - **Fundamentals**: Supply decreased week - on - week but was above the historical average. Demand - side inventories decreased. Different raw materials on the cost - side had different profit and loss situations. Overall, it is neutral [8]. - **Basis**: The battery - grade lithium carbonate spot price on August 7th was 71,100 yuan/ton, with a basis of - 1,200 yuan/ton for the 11 - contract, which is bearish [8]. - **Inventory**: The overall inventory decreased week - on - week but was above the historical average. The inventory situation of different links was different, and it is neutral [8]. - **Disk**: MA20 is upward, and the 11 - contract futures price closed above MA20, which is bullish [8]. - **Main Force Position**: The main force position is net short with an increase in short positions, which is bearish [8]. - **Expectation**: In July 2025, the production of lithium carbonate was 81,530 physical tons, and it is predicted to be 84,200 physical tons in the next month, a 3.27% increase. The import volume in July was 18,000 physical tons, and it is predicted to be 18,500 physical tons in the next month, a 2.78% increase. Demand is expected to strengthen next month, and inventory may be reduced. The 2511 contract is expected to fluctuate in the range of 70,580 - 74,020 [8]. - **Bullish Factors**: Manufacturers' stop - production and reduction plans, a decrease in the amount of lithium carbonate imported from Chile, and a decline in lithium spodumene imports [9]. - **Bearish Factors**: Continuous high supply from ore/salt lake ends with limited decline, and insufficient willingness of power battery end to take delivery [10]. 3.2 Yesterday's Market Overview - **Lithium Ore**: The price of lithium spodumene (6%) increased by 1.20% to 757 dollars/ton, and the price of lithium mica concentrate (2% - 2.5%) increased by 3.55% to 1,750 yuan/ton. Other related lithium ore prices also had different degrees of increase [13]. - **Lithium Compounds and Related Products**: The prices of battery - grade lithium carbonate, industrial - grade lithium carbonate, and other products increased to varying degrees, while some products like anhydrous lithium iron phosphate and lithium hexafluorophosphate remained unchanged [13]. - **Positive Materials and Lithium Batteries**: The prices of some positive materials and lithium batteries had small fluctuations, and some remained unchanged [13]. 3.3 Supply - Related 3.3.1 Supply - Lithium Ore - **Price and Production**: The price of lithium ore has shown historical fluctuations. The production of sample lithium spodumene mines in China and domestic lithium mica has different trends in different years. The monthly import volume of lithium concentrate also varies, and the self - sufficiency rate of lithium ore has changed over time [23]. - **Supply - Demand Balance**: The demand, production, import, and export of domestic lithium ore from July 2024 to July 2025 are given, and the balance situation is calculated. There are shortages in most months [25]. 3.3.2 Supply - Lithium Carbonate - **Production and Capacity**: The weekly and monthly production of lithium carbonate from different raw materials (lithium spodumene, lithium mica, salt lake, and recycling) has different trends. The monthly production by grade and raw material classification also shows changes. The monthly import volume from different countries and the overall import volume are presented [28]. - **Supply - Demand Balance**: The demand, export, import, and production of lithium carbonate from July 2024 to July 2025 are given, and the balance situation is calculated. There are surpluses and shortages in different months [32]. 3.3.3 Supply - Lithium Hydroxide - **Capacity Utilization and Production**: The weekly capacity utilization rate of domestic lithium hydroxide has changed over the years. The monthly production from different sources (causticization and smelting) and the overall production are presented [35]. - **Supply - Demand Balance**: The demand, export, import, and production of lithium hydroxide from July 2024 to July 2025 are given, and the balance situation is calculated. There are surpluses and shortages in different months [37]. 3.4 Lithium Compound Cost - Profit - **Cost and Profit of Different Raw Materials**: The cost and profit of producing lithium carbonate from different raw materials such as lithium spodumene concentrate, lithium mica concentrate, and recycled materials are presented over time. There are also data on the cost and profit of lithium hydroxide processing and related production processes [40][43][46]. 3.5 Inventory - **Lithium Carbonate Inventory**: The monthly and weekly inventories of lithium carbonate in different links (smelter, downstream, and others) are presented, showing changes over time [48]. - **Lithium Hydroxide Inventory**: The monthly inventories of lithium hydroxide in different links (downstream and smelter) are presented [48]. 3.6 Demand - Related 3.6.1 Demand - Lithium Battery - **Price, Production, and Sales**: The price, production, and sales of lithium batteries and related cells have shown historical fluctuations. The export volume of lithium batteries also varies in different years [51]. - **Inventory and Tendering**: The inventory of lithium battery cells and the tendering situation of energy storage projects are presented [54]. 3.6.2 Demand - Ternary Precursor - **Price, Cost, and Production**: The price, cost, and production of ternary precursors of different series have shown historical changes. The capacity utilization rate and monthly production are also given [57]. - **Supply - Demand Balance**: The demand, export, import, and production of ternary precursors from July 2024 to July 2025 are given, and the balance situation is calculated. There are surpluses and shortages in different months [60]. 3.6.3 Demand - Ternary Material - **Price, Cost, and Production**: The price, cost, and production of ternary materials of different series have shown historical changes. The weekly inventory, import, and export volumes are also presented [63][65]. 3.6.4 Demand - Phosphoric Acid Iron/Phosphoric Acid Iron Lithium - **Price, Cost, and Production**: The price, cost, and production of phosphoric acid iron and phosphoric acid iron lithium have shown historical changes. The monthly production, export volume, and weekly inventory are also presented [67][70]. 3.6.5 Demand - New Energy Vehicle - **Production, Sales, and Penetration**: The production, sales, export volume, and sales penetration rate of new energy vehicles have shown historical changes. The retail - wholesale ratio and inventory early - warning index of dealers are also presented [75][76][79].

Market Analysis - On July 14, 2025, the main lithium carbonate futures contract 2509 opened at 64,300 yuan/ton and closed at 66,480 yuan/ton, up 3.71% from the previous settlement price. The trading volume was 1,014,558 lots, and the open interest was 356,161 lots, an increase of 33,301 lots from the previous trading day. The total open interest of all contracts was 600,972 lots, an increase of 9,072 lots. The total trading volume of contracts increased by 4,747 lots to 502,065, and the overall speculation degree was 0.84. The lithium carbonate warehouse receipts were 11,204 lots, a decrease of 399 lots from the previous day [1]. - The lithium carbonate futures showed a strong upward trend yesterday, opening higher, oscillating and surging, with bulls dominating during the session and stabilizing at a high level at the end of the session, finally closing up 3.71% [1]. - According to SMM data, on July 14, 2025, the price of battery - grade lithium carbonate was quoted at 63,500 - 65,800 yuan/ton, up 900 yuan/ton from the previous trading day, and the price of industrial - grade lithium carbonate was quoted at 62,550 - 63,550 yuan/ton, also up 900 yuan/ton from the previous trading day [1]. Strategy - The sharp rise in lithium carbonate futures was mainly affected by news disturbances from Jiangxi's mining end and short - term warehouse receipt cancellations. July warehouse receipts need to be compulsorily cancelled, and there are few newly registered warehouse receipts currently, resulting in significant short - term delivery games, which have a greater impact on near - month contracts. The impact of the Jiangxi mining end disturbance on subsequent mining is not clear, and its short - term impact on supply and demand is relatively limited. Currently, the supply and demand are still relatively loose [2]. - In the medium to long term, there has been no substantial change in the supply - demand situation of lithium carbonate, and recent policies have little impact on it. The rebound height should not be overly optimistic. Attention should be paid to the impact of mining end disturbances. If the production of lithium mines in Jiangxi is affected, the oversupply pattern of lithium carbonate will change [2]. - Unilateral strategy: Wait and see for near - month contracts, and sell and hedge on rallies for far - month contracts. There are no strategies for inter - period, cross - variety, spot - futures, and options [2].

Group 1: Report Industry Investment Rating - The report does not provide an industry investment rating. Group 2: Core View of the Report - The lithium carbonate market shows a situation of weak supply and demand, and the weak and volatile trend may continue [1]. Group 3: Summary According to Relevant Catalogs 1. Fundamental Tracking - **Futures Market**: For the 2507 contract, the closing price was 65,960 yuan, down 300 yuan from the previous day; the trading volume was 114,538 lots, down 13,523 lots; the open interest was 244,729 lots, down 4,318 lots. For the 2509 contract, the closing price was 67,220 yuan, down 440 yuan; the trading volume was 13,046 lots, up 348 lots; the open interest was 35,957 lots, up 1,481 lots [1]. - **Spot Market**: The SMM battery - grade lithium carbonate index price was 68,029 yuan/ton, down 343 yuan/ton from the previous day. The average price of battery - grade lithium carbonate was 67,950 yuan/ton, down 300 yuan/ton; the average price of industrial - grade lithium carbonate was 66,200 yuan/ton, down 300 yuan/ton [1][3]. - **Raw Materials**: The price of spodumene concentrate (6%, CIF China) was 773 US dollars, down 3 US dollars; the price of lithium mica (2.0% - 2.5%) was 1,525 yuan, down 10 yuan [1]. - **Lithium Salts and Related Products**: The prices of various lithium salts and related products such as battery - grade lithium hydroxide, lithium iron phosphate, and ternary materials showed different degrees of decline or change [1]. 2. Macro and Industry News - Sichuan Tianfu Lithium Industry Co., Ltd. was established, with a registered capital of 500 million yuan. It is wholly - owned by Sichuan Natural Resources Investment Group Co., Ltd., marking the official entry of Sichuan state - owned capital into the lithium ore competition [3]. - The White House said that Trump would sign an executive order to reduce the impact of auto tariffs, and companies paying auto tariffs would no longer be subject to other tariffs such as aluminum and steel, and the paid tariffs would be compensated [3]. 3. Trend Intensity - The trend intensity of lithium carbonate is 0, indicating a neutral view, with the range of trend intensity being integers in the [-2, 2] interval [3].