1. Report Industry Investment Rating - Not provided in the document 2. Core Viewpoints of the Report - The supply of lithium carbonate is increasing, with the weekly output last week at 16,630 tons, a 3.58% increase from the previous week, and the predicted output for next month is 75,500 tons, a 2.29% increase from April 2025. The import volume is also expected to rise, with the predicted import volume for next month at 24,000 tons, a 20.00% increase from April 2025. [8][9] - The demand is expected to strengthen next month, and inventory may be reduced. However, the cost of 6% concentrate CIF has decreased on a daily basis, and the degree of supply surplus has increased. The price of lithium carbonate 2507 is expected to fluctuate in the range of 60,160 - 61,560. [9] - The cost of producing lithium carbonate from purchased lithium spodumene concentrate and lithium mica is decreasing, but both are still at a loss. The cost of the salt - lake end is significantly lower than that of the ore end, with sufficient profit margins and strong production motivation. [10] - The overall situation shows a pattern of strong supply and weak demand due to capacity mismatch, and the downward trend is difficult to change. [13] 3. Summary by Relevant Catalogs 3.1 Daily Views - **Supply - side**: Last week, the lithium carbonate output was 16,630 tons, a 3.58% increase from the previous week. In April 2025, the output was 73,810 physical tons, and the predicted output for next month is 75,500 tons, a 2.29% increase. The import volume in April 2025 was 20,000 physical tons, and the predicted import volume for next month is 24,000 tons, a 20.00% increase. [8][9] - **Demand - side**: Last week, the inventory of sample enterprises of lithium iron phosphate decreased by 0.50% to 86,550 tons, and the inventory of sample enterprises of ternary materials decreased by 2.37% to 15,187 tons. It is expected that the demand will strengthen next month, and inventory may be reduced. [8][9] - **Cost - side**: The daily price of 6% concentrate CIF has decreased, and is lower than the historical average. The cost of purchased lithium spodumene concentrate is 66,758 yuan/ton, a 0.56% decrease from the previous day, with a production loss of 4,385 yuan/ton. The cost of purchased lithium mica is 67,761 yuan/ton, a 0.50% decrease from the previous day, with a production loss of 6,940 yuan/ton. The cost of the salt - lake end is 31,868 yuan/ton, with sufficient profit margins. [9][10] - **Price Forecast**: The price of lithium carbonate 2507 is expected to fluctuate in the range of 60,160 - 61,560. [9] 3.2 Fundamental/Position Data - **Market Data**: The prices of various lithium - related products, including lithium ore, lithium carbonate, lithium hydroxide, and cathode materials, have shown different degrees of decline. For example, the price of battery - grade lithium carbonate has decreased by 0.71% to 63,250 yuan/ton. [16] - **Supply - side Data**: The weekly and monthly production, import, and export data of lithium carbonate and related products are provided. For example, the monthly production of lithium carbonate in April 2025 was 73,810 tons, and the predicted production for next month is 75,500 tons. The monthly import volume in April 2025 was 20,000 tons, and the predicted import volume for next month is 24,000 tons. [9][18] - **Demand - side Data**: The production, sales, and inventory data of downstream products such as lithium - ion batteries, new energy vehicles, and ternary precursors are provided. For example, the monthly output of lithium - ion batteries has increased, and the inventory of some products has decreased. [18][55] - **Inventory Data**: The overall inventory of lithium carbonate is 131,920 tons, a 0.27% increase from the previous week, and is higher than the historical average. The inventory of smelters has increased by 3.04% to 56,522 tons, while the inventory of downstream and other sectors has decreased. [10]

交易咨询业务资格：证监许可【2012】1091号 工业硅期货早报 2025年5月19日 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证：Z0021337 联系方式：0575-85226759 1 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议 。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 目 录 1 每日观点 2 基本面/持仓数据 每日观点——工业硅 供给端来看，上周工业硅供应量为6.7万吨，环比有所减少1.47%。 需求端来看，上周工业硅需求为7.3万吨，环比增长8.96%.需求有所抬升.多晶硅库存为 25万吨，处于低位，硅片亏损，电池片亏损，组件盈利；有机硅库存为105000吨，处于 低位，有机硅生产利润为-301元/吨，处于亏损状态，其综合开工率为60.11%，环比持 平，低于历史同期平均水平；铝合金锭库存为1.39万吨，处于低位，进口亏损为351元/ 吨，A356铝送至无锡运费和利润为590.83元/吨，再生铝开工率为55%，环比持平，处于 低位。 1、基本面: 偏多。 成本端来看， ...

交易咨询业务资格：证监许可【2012】1091号 碳酸锂期货早报 2025年5月19日 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证：Z0021337 联系方式：0575-85226759 1 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议 。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 2 基本面/持仓数据 目 录 1 每日观点 每日观点 | | | 供给端来看 上周碳酸锂产量为16630吨 ， ， | 环比减少9 . | 36% 高于历史同期平均水平 | | 。 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 需求端来看 上周磷酸铁锂样本企业库存为86988吨 ， | ， | 环比减少2 16% . | | 上周三元材料样 | | | | | 本企业库存为15187吨 环比减少2 37% ， . 。 | | | | | | | | | | | 11% | | | | | | | ， | | ， ， | | | | | ...

交易咨询业务资格：证监许可【2012】1091号 碳酸锂期货早报 2025年5月16日 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证：Z0021337 联系方式：0575-85226759 1 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议 。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 目 录 1 每日观点 2 基本面/持仓数据 每日观点 供给端来看，上周碳酸锂产量为18349吨，环比增长26.69%,高于历史同期平均水平。 需求端来看，上周磷酸铁锂样本企业库存为86988吨，环比减少2.16%,上周三元材料样本企业库存为15187 吨，环比减少2.37%。 成本端来看，外购锂辉石精矿成本为68005元/吨，日环比增长0.01%,生产所得为-4098元/吨，有所亏损；外 购锂云母成本为69263元/吨，日环比持平，生产所得为-6923元/吨，有所亏损；回收端生产成本普遍大于矿 石端成本，生产所得为负，排产积极性较低；盐湖端季度现金生产成本为31868元/吨，盐湖端成本显著低于 矿石端，盈利 ...

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The supply - demand imbalance in the lithium carbonate market persists, with supply exceeding demand. The overall trend of lithium carbonate prices is difficult to reverse the downward situation due to capacity mismatch. The 2507 contract of lithium carbonate is expected to fluctuate in the range of 63,420 - 64,660 [8][9][13]. 3. Summary According to the Directory 3.1 Daily View - **Supply Side**: Last week, lithium carbonate production was 18,349 tons, a 26.69% week - on - week increase, higher than the historical average. In April 2025, the production was 73,810 tons, and the predicted production for next month is 75,500 tons, a 2.29% increase. The import volume in April was 20,000 tons, and the predicted import volume for next month is 24,000 tons, a 20% increase [8][9]. - **Demand Side**: Last week, the inventory of sample enterprises of lithium iron phosphate was 86,988 tons, a 2.16% week - on - week decrease, and the inventory of sample enterprises of ternary materials was 15,556 tons, an 11.59% week - on - week increase. It is expected that demand will strengthen next month, and inventory may be reduced [8]. - **Cost Side**: The cost of purchased spodumene concentrate is 68,459 yuan/ton, a 0.59% daily decrease, resulting in a loss of 4,750 yuan/ton. The cost of purchased lepidolite is 69,610 yuan/ton, a 0.33% daily decrease, resulting in a loss of 7,566 yuan/ton. The production cost of the recycling end is generally higher than that of the ore end, with negative production income and low production enthusiasm. The quarterly cash production cost of the salt lake end is 31,868 yuan/ton, significantly lower than the ore end, with sufficient profit margins and strong production motivation [9]. - **Base Spread**: On May 12, the spot price of battery - grade lithium carbonate was 64,600 yuan/ton, and the base spread of the 07 contract was 560 yuan/ton, with the spot at a premium to the futures, showing a neutral situation [9]. - **Inventory**: The smelter inventory was 54,852 tons, a 7.48% week - on - week increase, higher than the historical average; the downstream inventory was 42,156 tons, a 6.67% week - on - week decrease, higher than the historical average; other inventories were 34,561 tons, a 3.54% week - on - week decrease, higher than the historical average; the total inventory was 131,569 tons, a 0.35% week - on - week decrease, higher than the historical average, showing a bearish situation [9]. - **Market**: The MA20 is downward, and the futures price of the 07 contract closed below the MA20, showing a bearish situation [9]. - **Main Position**: The main position is net short, and short positions are increasing, showing a bearish situation [9]. - **Likely Positive Factors**: Manufacturers' plans to halt or reduce production, a month - on - month decrease in the amount of lithium carbonate imported from Chile, and a decline in the import volume of spodumene [11]. - **Likely Negative Factors**: The supply at the ore/salt lake end remains at a high level with limited decline, and the willingness of the power battery end to take delivery is insufficient [12]. - **Main Logic**: Capacity mismatch leads to strong supply and weak demand, and the downward trend is difficult to change [13]. 3.2 Lithium Carbonate Market Overview - **Price and Base Spread**: The prices of lithium ore, lithium carbonate, lithium hydroxide, and other products showed varying degrees of increase or decrease. The base spreads of some products showed significant changes, such as a - 74.89% decrease in the base spread of the 07 contract [15]. - **Supply - Side Data**: The weekly and monthly operating rates of some products showed fluctuations. For example, the weekly operating rate of lithium iron phosphate decreased by 2.09%, and the monthly operating rate increased by 1.82%. The production costs and profits of lithium iron ore and lithium iron phosphate also changed [17]. - **Demand - Side Data**: The monthly production and sales volume of some products increased. For example, the monthly production of lithium iron phosphate increased by 4.13%, and the monthly battery loading volume increased by 62.18% [17]. 3.3 Supply - Related Content - **Lithium Ore**: The price of lithium ore showed a downward trend. The production and import volume of lithium ore in different periods showed different changes. The self - sufficiency rate of lithium ore also fluctuated. The weekly inventory of lithium ore at ports and traders showed a certain trend [21][22]. - **Lithium Carbonate**: The weekly operating rate, production, and import volume of lithium carbonate from different sources (lithium ore, lithium mica, salt lake, recycling) showed different trends. The supply - demand balance of lithium carbonate also changed in different months [27][28][33]. - **Lithium Hydroxide**: The weekly capacity utilization rate, monthly operating rate, production, export volume, and supply - demand balance of lithium hydroxide showed different situations in different periods [35][36][39]. 3.4 Lithium Compound Cost - Profit - The cost and profit of purchased spodumene concentrate, purchased lepidolite concentrate, and various recycling materials for producing lithium carbonate showed different trends. The purification profit of industrial - grade lithium carbonate, the profit of lithium hydroxide carbonization to lithium carbonate, and the profit of lithium carbonate causticization to lithium hydroxide also changed [41][42][45]. 3.5 Inventory - The inventory of lithium carbonate and lithium hydroxide at different stages (smelter, downstream, other) showed different trends in weekly and monthly data [50]. 3.6 Demand - Related Content - **Lithium Battery**: The price, production, loading volume, export volume, and inventory of lithium batteries showed different trends in different periods. The cost of battery cells also changed [53][54][56]. - **Ternary Precursor**: The price, cost, profit, processing fee, capacity utilization rate, production, and supply - demand balance of ternary precursors showed different situations in different periods [58][59][62]. - **Ternary Material**: The price, cost, profit, operating rate, production, export volume, import volume, and inventory of ternary materials showed different trends in different periods [64][65][67]. - **Lithium Iron Phosphate**: The price, production cost, profit, capacity, operating rate, production, export volume, and inventory of lithium iron phosphate showed different trends in different periods [69][70][72]. - **New Energy Vehicle**: The production, sales volume, export volume, sales penetration rate, and inventory of new energy vehicles showed different trends in different periods [76][77][78].

1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - The lithium carbonate market shows a situation of strong supply and weak demand due to capacity mismatch, and the downward trend is difficult to change. The 2507 contract of lithium carbonate is expected to fluctuate in the range of 62,420 - 63,620 [8][13] - The cost of purchasing lithium spodumene concentrate and lithium mica has decreased, but production results in losses. The production cost at the recycling end is generally higher than that at the ore end, and the production enthusiasm is low. The cash production cost at the salt - lake end is significantly lower than that at the ore end, with sufficient profit margins and strong production motivation [10] 3. Summaries According to the Directory 3.1 Daily Viewpoints - **Fundamentals**: Neutral. The cost of purchasing lithium spodumene concentrate is 68,866 yuan/ton, with a daily - on - daily decrease of 1.64%, resulting in a loss of 4,513 yuan/ton. The cost of purchasing lithium mica is 69,841 yuan/ton, with a daily - on - daily decrease of 1.30%, resulting in a loss of 7,060 yuan/ton. The cash production cost at the salt - lake end is 31,868 yuan/ton, with sufficient profit margins [10] - **Basis**: On May 9th, the spot price of battery - grade lithium carbonate was 65,250 yuan/ton, and the basis of the 07 contract was 2,230 yuan/ton, with the spot at a premium to the futures, showing a bullish signal [10] - **Inventory**: The overall inventory is 131,569 tons, with a month - on - month decrease of 0.35%, but still higher than the historical average. The inventory of smelters increased by 7.48% month - on - month, the downstream inventory decreased by 6.67% month - on - month, and other inventories decreased by 3.54% month - on - month, showing a bearish signal [10] - **Disk**: The MA20 is downward, and the futures price of the 07 contract closed below the MA20, showing a bearish signal [10] - **Main Position**: The main position is net short, and short positions increased, showing a bearish signal [10] - **Likely Positive Factors**: Manufacturers' plans to stop or reduce production, a month - on - month decrease in the import volume of lithium carbonate from Chile, and a decline in the import volume of lithium spodumene [11] - **Likely Negative Factors**: The supply at the ore/salt - lake end remains at a high level with limited decline, and the willingness of the power battery end to take delivery is insufficient [12] 3.2 Fundamental/Position Data - **Supply - side**: Last week, the output of lithium carbonate was 18,349 tons, with a week - on - week increase of 26.69%, higher than the historical average. In April 2025, the output of lithium carbonate was 73,810 physical tons, and the predicted output for the next month is 75,500 physical tons, with a month - on - month increase of 2.29%. The import volume in April was 20,000 physical tons, and the predicted import volume for the next month is 24,000 physical tons, with a month - on - month increase of 20.00% [7][8] - **Demand - side**: Last week, the inventory of sample enterprises of lithium iron phosphate was 86,988 tons, with a week - on - week decrease of 2.16%. The inventory of sample enterprises of ternary materials was 15,556 tons, with a week - on - week increase of 11.59%. It is expected that the demand will strengthen next month, and the inventory may be reduced [7][8] - **Cost - side**: The CIF price of 6% concentrate decreased on a daily - on - day basis, lower than the historical average, and the degree of supply surplus has increased [8] 3.3 Market Overview of Lithium Compounds - **Lithium Ore**: The price of lithium spodumene (6%) decreased from 743 US dollars/ton to 725 US dollars/ton, a decrease of 2.42%. The price of lithium mica concentrate (2 - 2.5%) decreased from 1,425 yuan/ton to 1,385 yuan/ton, a decrease of 2.81% [15] - **Lithium Compounds**: The price of battery - grade lithium carbonate remained unchanged at 65,250 yuan/ton, and the price of industrial - grade lithium carbonate remained unchanged at 63,600 yuan/ton [15] - **Lithium - Battery Materials**: The price of lithium iron phosphate anhydrous remained unchanged at 10,815 yuan/ton, and the price of lithium hexafluorophosphate (99.5%) remained unchanged at 55,500 yuan/ton [15]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - The supply of lithium carbonate is strong while the demand is weak due to capacity mismatch, and the downward trend is difficult to change [8][11]. - The 2507 contract of lithium carbonate is expected to fluctuate in the range of 63,680 - 64,880 [8]. 3. Summary by Relevant Catalogs 3.1 Daily Views - **Fundamentals** - Supply: Last week, the lithium carbonate production was 18,349 tons, a 26.69% week - on - week increase, higher than the historical average [8]. - Demand: The inventory of lithium iron phosphate sample enterprises was 86,988 tons, a 2.16% week - on - week decrease; the inventory of ternary material sample enterprises was 13,940 tons, a 1.79% week - on - week decrease [8]. - Cost: The cost of purchased lithium spodumene concentrate was 70,015 yuan/ton, a 0.57% daily decrease, resulting in a loss of 5,663 yuan/ton; the cost of purchased lithium mica was 70,765 yuan/ton, a 1.44% daily decrease, resulting in a loss of 7,985 yuan/ton. The production cost of the recycling end is generally higher than that of the ore end, with negative production income and low production enthusiasm. The quarterly cash production cost of the salt lake end is 31,868 yuan/ton, with sufficient profit margins and strong production motivation [8]. - **Basis**: On May 8th, the spot price of battery - grade lithium carbonate was 65,250 yuan/ton, and the basis of the 07 contract was 970 yuan/ton, with the spot at a premium to the futures [8]. - **Inventory**: The smelter inventory was 54,852 tons, a 7.48% week - on - week increase; the downstream inventory was 42,156 tons, a 6.67% week - on - week decrease; other inventories were 34,561 tons, a 3.54% week - on - week decrease. The total inventory was 131,569 tons, a 0.35% week - on - week decrease, all higher than the historical average [8]. - **Market**: The MA20 of the market is downward, and the futures price of the 07 contract closed below the MA20. The main position is net short with an increase in short positions [8]. - **Expectation**: In April 2025, the lithium carbonate production was 73,810 physical tons, and the predicted production for next month is 75,500 physical tons, a 2.29% month - on - month increase. The import volume in April was 20,000 physical tons, and the predicted import volume for next month is 24,000 physical tons, a 20.00% month - on - month increase. The demand is expected to strengthen next month, and the inventory may be reduced. The CIF price of 6% concentrate has decreased daily, lower than the historical average, and the degree of supply surplus has increased [8]. 3.2 Factors Affecting the Market - **Positive factors**: Manufacturers' plans to stop or reduce production, a decrease in the volume of lithium carbonate imported from Chile on a month - on - month basis, and a decline in the import volume of lithium spodumene [9]. - **Negative factors**: The supply at the ore/salt lake end remains at a high level with limited decline, and the willingness of the power battery end to take delivery is insufficient [10]. 3.3 Market Overview - **Prices**: The prices of most lithium - related products, including lithium ore, lithium salts, cathode materials, and lithium batteries, showed certain fluctuations. For example, the price of lithium spodumene (6%) decreased by 0.93% to 743 US dollars/ton, and the price of battery - grade lithium carbonate decreased by 2.10% to 65,250 yuan/ton [13]. - **Supply - side data**: The weekly operating rate of lithium carbonate was 62.6%, a 0.16% decrease; the monthly production of lithium carbonate was 73,810 tons, a 6.65% decrease [16]. - **Demand - side data**: The monthly production of lithium iron phosphate was 229,200 tons, a 4.13% increase; the monthly production of lithium iron phosphate was 68,650 tons, a 0.36% decrease [16]. 3.4 Supply - Related Content - **Lithium Ore** - Price: The price of lithium ore has fluctuated over time [21]. - Production: The production of lithium ore from different sources (lithium spodumene, lithium mica, salt lake, etc.) has shown different trends [21]. - Supply - demand balance: The supply - demand balance of domestic lithium ore has been in a state of change, with periods of surplus and shortage [24]. - **Lithium Carbonate** - Production: The production of lithium carbonate from different sources (lithium spodumene, lithium mica, salt lake, recycling) and the overall production have shown different trends [27]. - Import: The import volume of lithium carbonate from different countries (Chile, Argentina, etc.) has changed [27]. - Supply - demand balance: The monthly supply - demand balance of lithium carbonate has fluctuated, with some months showing a surplus and others a shortage [32]. - **Lithium Hydroxide** - Production: The production of lithium hydroxide from different sources (smelting, causticizing) and the overall production have shown different trends [38]. - Export: The export volume of lithium hydroxide has changed [38]. - Supply - demand balance: The monthly supply - demand balance of lithium hydroxide has fluctuated [40]. 3.5 Cost and Profit of Lithium Compounds - The cost and profit of purchased lithium spodumene concentrate, lithium mica concentrate, and the recycling of different types of lithium - containing materials (phosphate - iron lithium battery black powder, ternary battery black powder, etc.) have shown different trends over time [43][46][49]. 3.6 Inventory - The inventory of lithium carbonate (smelter inventory, downstream inventory, other inventory) and lithium hydroxide (downstream inventory, smelter inventory) has changed over time [16][51]. 3.7 Demand - Related Content - **Lithium Batteries** - Price: The price of lithium batteries has fluctuated [55]. - Production: The monthly production of lithium battery cells (power ternary, power lithium iron phosphate, energy storage) has changed [55]. - Loading volume: The monthly loading volume of power batteries (lithium iron phosphate, ternary batteries) has increased [16]. - Export: The export volume of lithium batteries has changed [55]. - **Ternary Precursor** - Price: The price of ternary precursor has fluctuated [60]. - Production: The monthly production of ternary precursor has changed [60]. - Supply - demand balance: The monthly supply - demand balance of ternary precursor has fluctuated [63]. - **Ternary Materials** - Price: The price of ternary materials has fluctuated [66]. - Production: The weekly operating rate and monthly production of ternary materials have changed [66]. - Export and import: The export and import volumes of ternary materials have changed [68]. - **Phosphate Iron/Phosphate Iron Lithium** - Price: The price of phosphate iron and phosphate iron lithium has fluctuated [70]. - Production: The monthly production of phosphate iron and phosphate iron lithium has changed [70][73]. - Export: The monthly export volume of phosphate iron lithium has changed [73]. - **New Energy Vehicles** - Production: The production of new energy vehicles (plug - in hybrid, pure - electric) has increased [78]. - Sales: The sales volume of new energy vehicles (plug - in hybrid, pure - electric) has increased [78]. - Export: The export volume of new energy vehicles has increased [78]. - Penetration rate: The sales penetration rate of new energy vehicles has increased [79].

交易咨询业务资格：证监许可【2012】1091号 碳酸锂期货早报 2025年4月30日 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证：Z0021337 联系方式：0575-85226759 1 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议 。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 目 录 1 每日观点 2 基本面/持仓数据 每日观点 供给端来看，上周碳酸锂产量为16900吨，环比减少2.80%,高于历史同期平均水平。 需求端来看，上周磷酸铁锂样本企业库存为94110吨，环比减少3.08%,上周三元材料样本企业库存为14195 吨，环比减少1.81%。 成本端来看，外购锂辉石精矿成本为72573元/吨，日环比减少1.25%,生产所得为-4671元/吨，有所亏损；外 购锂云母成本为74053元/吨，日环比减少0.92%,生产所得为-7815元/吨，有所亏损；回收端生产成本接近矿 石端成本，排产积极性一般；盐湖端季度现金生产成本为31868元/吨，盐湖端成本显著低于矿石端，盈利空间 充足， ...

交易咨询业务资格：证监许可【2012】1091号 碳酸锂期货早报 2025年4月29日 需求端来看，上周磷酸铁锂样本企业库存为94110吨，环比减少3.08%,上周三元材料样本企业库存为14195 吨，环比减少1.81%。 成本端来看，外购锂辉石精矿成本为72573元/吨，日环比减少1.25%,生产所得为-4671元/吨，有所亏损；外 购锂云母成本为74053元/吨，日环比减少0.92%,生产所得为-7815元/吨，有所亏损；回收端生产成本接近矿 石端成本，排产积极性一般；盐湖端季度现金生产成本为31868元/吨，盐湖端成本显著低于矿石端，盈利空间 充足，排产动力十足。 1、基本面: 中性。 2、基差: 04月28日，电池级碳酸锂现货价为68850元/吨，07合约基差为1890元/吨，现货升水期货。 偏多。 冶炼厂库存为52400吨，环比增加0.52%,高于历史同期平均水平；下游库存为42823吨，环比增加2.61%,高于 大越期货投资咨询部 胡毓秀 从业资格证号：F03105325 投资咨询证：Z0021337 联系方式：0575-85226759 1 重要提示：本报告非期货交易咨询业务项下服务，其中的观点 ...