碳酸锂产业日报 2025/6/3 | | 撰写人：王福辉 从业资格证号：F03123381 投资咨询从业证书号：Z0019878 | | | | | | --- | --- | --- | --- | --- | --- | | 项目类别 | 数据指标 最新 环比 | | 数据指标 | 最新 | 环比 | | | 主力合约收盘价（日，元/吨） | 59,940.00 | +140.00↑ 前20名净持仓（日，手） | -4,671.00 | +13561.00↑ | | 期货市场 | 主力合约持仓量（日，手） | 259,658.00 | -1351.00↓ 近远月合约价差（日，元/吨） | 80.00 | +80.00↑ | | | 广期所仓单（日，手/吨） | 33,397.00 | -60.00↓ | | | | 现货市场 | 电池级碳酸锂平均价（日，元/吨） | 60,300.00 | -400.00↓ 工业级碳酸锂平均价（日，万元/吨） | 58,700.00 | -400.00↓ | | | Li₂CO₃主力合约基差（日，元/吨） | 360.00 | -540.00↓ | | | | 上游情况 ...

金 融 期 货 研 究 2025 年 6 月 3 日 期指：消息面纷繁复杂，下方仍有支撑 | | | 【期指期现数据跟踪】 | 期指数据 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 收盘价 | 涨跌幅% | 基 差 | 成交额-亿 | 成交量 | 动 变 | 持仓量 | 动 变 | | 沪深300 | 3840.23 | ↓0.48 | | 1993.9 | | | | | | IF2506 | 3822.4 | ↓0.34 | -17.83 | 729.6 | 63806 | ↓6796 | 122449 | ↓13819 | | IF2507 | 3785.6 | ↓0.34 | -54.63 | 54.4 | 4807 | ↓357 | 11752 | ↑398 | | IF2509 | 3752 | ↓0.44 | -88.23 | 186.2 | 16576 | ↓4840 | 78268 | ↓2566 | | IF2512 | 3715.2 | ↓0.47 | -125.03 | 42 ...

Group 1 - As of May 31, 2025, the "old-for-new" program in five major consumer goods categories has driven sales of 1.1 trillion yuan, with approximately 175 million subsidies issued directly to consumers, enhancing consumer welfare and stimulating the consumption market [1] - The "old-for-new" initiative reflects the stability and potential of the Chinese economy, contributing to high-quality economic development [1] - On June 3, the A-share market experienced a pullback, with the A500 index showing stable performance and the A500 ETF (159339) averaging over 100 million yuan in daily trading volume over the past 10 trading days, indicating high market activity [1] Group 2 - The A500 index, which represents core A-share assets, covers 63% of total revenue and 70% of total net profit in the market with less than 10% of the total number of A-share stocks, making it a strong tool for long-term investment in China's capital market [1] - The A50 ETF (159592) tracks the A50 index, which includes large-cap leading stocks across various industries, benefiting from increased market concentration amid supply-side reforms [2] - The investment value of A-shares is gradually becoming apparent, particularly during the recovery of ROE and profit cycles, with record high dividends and buybacks since the beginning of the year [2]

Core Insights - The consumption upgrade policy has significantly boosted sales in various sectors, with a total sales increase of 1.1 trillion yuan driven by the replacement of old consumer goods [1] - The government has allocated 300 billion yuan in special bonds to support the consumption upgrade initiative, doubling the amount from the previous year [1] Group 1: Sales Data - As of May 31, 2025, the old-for-new replacement program has led to 4.12 million applications for automobile subsidies [1] - A total of 49.863 million consumers purchased 77.618 million units of 12 categories of household appliances [1] - Approximately 53.529 million consumers bought 5.6629 million digital products, including mobile phones [1] - The program has also seen 6.5 million electric bicycles replaced and 57.626 million home renovation orders [1] Group 2: Consumer Spending Trends - In the first four months of 2025, the total retail sales of consumer goods reached 16.18 trillion yuan, marking a year-on-year growth of 4.7% [1] - In April, the retail sales of goods increased by 5.1% year-on-year, with a 0.5 percentage point acceleration compared to the first quarter [1] - Retail sales from above-designated size enterprises grew by 6.6%, with an acceleration of 0.8 percentage points from the first quarter [1] Group 3: Sector Performance - Retail sales of household appliances, cultural office supplies, furniture, and communication equipment increased by 38.8%, 33.5%, 26.9%, and 19.9% year-on-year, respectively [2] - In April, the retail volume of passenger cars rose by 14.5% year-on-year, with new energy vehicles seeing a growth of 33.9% and a penetration rate of 51.5% [2] - Sales of tablets, energy-efficient air conditioners, massage chairs, and water purifiers increased by 25.8%, 25.2%, 15%, and 11.2% year-on-year, respectively [2]

走进五一商圈海信广场，吸睛的不但有ZOOLUNG动物园的萌宠，更有"趣味钓粽子""国潮绘龙舟"等特 色活动。参赛小选手们神情专注，手中钓竿灵活挥动，在规定时段内争分夺秒地钓取粽子；大小朋友围 坐在一起，手中画笔在龙舟模型上精心勾勒，弥漫着创意与欢乐的气息……海信广场别出心裁地推 出"粽享童趣"系列特色活动，为市民带来一场传统与童趣交融的欢乐盛宴。据商场有关负责人介绍，5 月31日客流超过4万，比去年端午提升了30%。 目光投向月亮岛商圈砂之船（长沙）奥莱的T台，50位6至12岁的"10后"走出自信的步伐。正在这里举行 的长沙国际少儿时装周暨砂之船第五届童模大赛决赛，展现了孩子们自信、创新与协作的新风采。"通 过赛事，我们拉近了与消费者的距离，让商场成为孩子成长的见证地、家庭欢聚的打卡地，增加了会员 粘性。" 长沙晚报掌上长沙6月2日讯（全媒体记者 刘捷萍）赛龙舟、包粽子、扎香囊、编五彩绳、童模大赛、 中西音乐对话……今年端午节与"六一"儿童节不期而遇，粽香与童趣交织成夏日序曲，长沙消费市场活 力爆棚。 各大商圈传统+时尚玩法多新意足 各大商圈纷纷推出各式活动，传统民俗体验和现代时尚活动轮番登场，玩法多、新意足 ...

商务部新闻发言人就美方有关言论答记者问表示，美单方面不断挑起新的经贸摩擦，加剧双边经贸关系 的不确定性、不稳定性，不仅不反思自身，反而倒打一耙，无端指责中方违反共识，这严重背离事实。 中方坚决拒绝无理指责；针对中国汽车工业协会今日发布的《关于维护公平竞争秩序促进行业健康发展 的倡议》，工业和信息化部有关负责人表示，将加大汽车行业"内卷式"竞争整治力度，坚决维护公平有 序的市场环境；6月1日，商务部数据显示，截至目前，今年消费品以旧换新销售额已突破1万亿元。 ...

Group 1 - The sales revenue from the consumer goods trade-in program has exceeded 1 trillion yuan this year, reaching 1.1 trillion yuan as of May 31 [1] - Approximately 175 million subsidies have been issued directly to consumers under this program [1] - The program has seen significant participation, with 4.12 million applications for automobile trade-ins and 49.86 million consumers purchasing 12 categories of home appliances [1] Group 2 - The 2025 fixed population sample follow-up survey has officially started, aimed at enhancing population statistics and dynamic monitoring [2] - This survey will reflect the basic characteristics and quality of life changes of the surveyed population over a long period [2] Group 3 - NIO's legal department has issued a statement regarding the dissemination of false information about the shareholding changes of its co-founder and president, Qin Lihong [5] - The company confirmed that there have been no changes in Qin Lihong's shareholding, and the misinformation has disrupted normal capital market order [5] - Legal actions will be taken against those responsible for spreading the false information [5]

Company Movements - In May, BYD sold 382,500 new energy vehicles, up from 331,800 units in the same month last year, with a cumulative sales of 1.7634 million units, a year-on-year increase of 38.7% [5] - Leap Motor delivered 45,067 vehicles in May, representing a year-on-year growth of over 148% [5] - Li Auto delivered 40,856 new vehicles in May, a year-on-year increase of 16.7%, with a historical cumulative delivery of 1,301,531 units as of May 31 [5] - Xpeng Motors delivered 33,525 vehicles in May, marking a year-on-year increase of 230%, achieving over 30,000 deliveries for seven consecutive months [7] - Xiaomi Motors delivered over 28,000 vehicles in May and is preparing for large-scale production of the Xiaomi YU7 [7] - Deep Blue Motors delivered 25,521 vehicles in May, showing a year-on-year growth of 78% and a month-on-month increase of 27% [7] - NIO delivered 23,231 new vehicles in May, a year-on-year increase of 13.1%, with 13,270 from the NIO brand, 6,281 from the Lada brand, and 3,680 from the Firefly brand [7] - Lantu Motors sold 10,022 vehicles in May, reflecting a year-on-year growth of 122% [7] Investment News - 12 brokerages, including Shenwan Hongyuan and Everbright, released their top ten stocks for June, with Yara International being favored by three institutions, while Zijin Mining, Juhua Co., Huadian Technology, Dongpeng Beverage, and Qingdao Beer were each listed twice [4] - In May, the three major exchanges in China received a total of 16 IPO applications, marking a significant increase compared to the previous four months and setting a new monthly record for the year, with the Beijing Stock Exchange accounting for nearly 70% of the applications [4] - Last week, institutions conducted research on 435 listed companies, with Zhongwei Company receiving the most attention from 212 institutions [4] - This week, one new stock, Haiyang Technology, is available for subscription at an issue price of 11.5 yuan per share, with an issue price-to-earnings ratio of 12.69 times, compared to the industry average of 23.65 times, requiring a minimum investment of 145,000 yuan in the Shanghai market [4] - A total of 54 restricted shares will be unlocked this week, amounting to 2.399 billion shares with a market value of 27.875 billion yuan, led by Chipone Technology at 4.259 billion yuan [4]

Domestic News - The sales of the consumer goods trade-in program have exceeded 1 trillion yuan this year [2] - The Ministry of National Defense responded to negative remarks from the U.S. Secretary of Defense regarding China, stating that the U.S. will ultimately suffer backlash [2] - The U.S. Trade Representative's office has extended certain exemptions from Section 301 tariffs on China [2] - A commentary from the People's Daily emphasized that the "price war" in the new energy vehicle sector should not be encouraged [2] - New car manufacturers have collectively reported a significant increase in delivery volumes for May [2] International News - The UK Prime Minister Starmer announced plans to restore the UK's military readiness [2] - British media reported that the UK will urge the Trump administration to implement a zero-tariff agreement on steel [2] - Elon Musk stated that he does not want to be held accountable for actions taken by the U.S. government [2] - Turkish authorities have ordered the detention of dozens of opposition party officials, expanding the crackdown [2] - According to Nikkei News, the Bank of Japan has reserved the highest amount for potential losses in bond trading [2]

《方案》明确总体目标，2025年成都市社会消费品零售总额计划增长5%，服务消费零售额占比超 50%；将打造100个以上特色消费场景，举办大型音乐节、演唱会等文体活动120场以上；通过消费品以 旧换新政策，力争拉动消费400亿元。 记者从成都市发展改革委获悉，近日，成都市发展改革委联合多部门印发《2025年成都市提振消费专项 行动实施方案》(以下简称《方案》)，围绕升级大宗消费、扩大服务消费、培育新型消费、创新消费场 景、促进增收减负、优化消费环境六方面提出26条重点任务，加快打造国际消费中心城市。 同时，培育首发经济、低空消费、平台经济等新型消费，将成为成都增强消费动能的抓手之一。《方 案》提出出台成都市推动首发经济发展三年行动计划，2025年落地800家首店、100场高能级首发活动， 打造50个首发地标，培育110个新消费品牌。低空消费领域，将丰富低空旅游、无人机表演等场景，支 持建设航空运动基地和起降设施，开辟高成长性消费新赛道。平台经济方面，发展即时零售、无人车配 送等模式，2025年网络零售额目标增长5%以上。另外，成都还将创新消费场景、载体，提质场景载 体、举办高品质活动、促进入境消费升级、推进便民 ...