消息面上，继昨日突破13万元/吨关口后，碳酸锂期货今早再强势上行，主力LC2506合约大涨超8%，最 高见137760元/吨。国务院于2026年1月5日印发的《关于固体废物综合治理行动计划的通知》提出，推 动重有色金属矿采选一体化建设，促进尾矿就近充填回填，原则上不再批准建设无自建矿山、无配套尾 矿利用处置设施的选矿项目；推动重点行业固体废物产生量与综合消纳量逐步实现动态平衡。据期货日 报，有市场人士认为，该文件可能会对江西当前某些矿端产生一定影响。 智通财经APP获悉，锂矿股表现活跃，截至发稿，赣锋锂业(01772)涨4.13%，报55.5港元；天齐锂业 (09696)涨3.04%，报54.3港元。 ...

碳酸锂基本面数据 商 品 研 究 2026 年 1 月 6 日 碳酸锂：供给收缩担忧叠加需求向好预期，价格重 心上移 邵婉嫕 投资咨询从业资格号：Z0015722 shaowanyi@gtht.com 刘鸿儒（联系人） 期货从业资格号：F03124172 liuhongru@gtht.com 【基本面跟踪】 | | | | T | T-1 | T-5 | T-10 | T-22 | T-66 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2601合约（收盘价） | 127,000 | 7,000 | 5,460 | 22,560 | 32,140 | 53,420 | | | | 2601合约（成交量） | 2,806 | -3,191 | -30,573 | -34,825 | -70,390 | -117,409 | | | | 2601合约（持仓量） | 7,060 | -4,225 | -19,432 | -61,809 | -230,322 | -165,565 | | | 盘面 | 2605合约（收盘价） | 129 ...

Market Overview - The Shanghai Composite Index has returned to above 4000 points, marking a twelve-day winning streak, with a closing increase of 1.38% [1][6] - The Shenzhen Component Index rose by 2.24%, while the ChiNext Index led the gains with a 2.85% increase [2][6] Sector Performance - The top-performing sectors included Media (4.12%), Pharmaceuticals (3.85%), Electronics (3.69%), Non-Bank Financials (3.14%), and Computers (2.71%) [3] - Conversely, the worst-performing sectors were Oil & Petrochemicals (-1.29%), Banks (-0.34%), Transportation (-0.30%), Retail (-0.17%), and Agriculture, Forestry, Animal Husbandry, and Fishery (0.00%) [3] Conceptual Sector Highlights - The leading conceptual sectors were Brain-Computer Interface (13.70%), Hyperbaric Oxygen Chamber (7.01%), Blood Oxygen Monitor (5.65%), and New Technology Stocks (5.19%) [3] - The lagging conceptual sectors included Hainan Free Trade Zone (-2.93%), Duty-Free Shops (-1.08%), Free Trade Ports (-0.94%), Pork (-0.28%), and Ride-Hailing (-0.05%) [3] Future Outlook - The market opened strong on the first trading day of 2026, with significant participation from over 4100 stocks rising, including 127 hitting the daily limit [6] - The manufacturing PMI showed a seasonal rebound, indicating improved supply and demand, while the construction PMI saw a significant month-on-month increase, suggesting a potential boost to the economy [6] - The report anticipates continued market liquidity and risk appetite improvement, supported by favorable domestic policies and a strengthening RMB, with a focus on sectors such as TMT, Finance, Machinery, Military, Power, and Nonferrous Metals for investment opportunities [6]

Group 1 - The State Council has issued the "Solid Waste Comprehensive Management Action Plan," which emphasizes the principles of reduction, resource utilization, and harmlessness in solid waste management [1] - The Action Plan aims to establish a comprehensive management system for solid waste, focusing on source reduction, process control, end-use, and full-chain harmless management [1] - By 2030, the plan targets significant improvements in solid waste management, including controlling historical stockpiles, curbing illegal dumping, achieving an annual comprehensive utilization of 4.5 billion tons of major solid waste, and recycling 510 million tons of main renewable resources [1] Group 2 - Related A-share concept stocks include companies such as Greenmeadow and Sanfeng Environment, which may benefit from the new policies outlined in the Action Plan [2]

Core Insights - The report highlights the expected improvement in the securities industry in 2026, driven by supportive policies and accelerated consolidation, which is anticipated to enhance industry prosperity [6][11] - The report emphasizes the importance of self-operated investment stability and sustainable growth for securities firms, indicating that these factors will be crucial for overall performance [9][10] Economic News - The State Council has issued a solid waste comprehensive management action plan aiming for a comprehensive utilization of 4.5 billion tons of major solid waste by 2030 [2] - The China Securities Regulatory Commission (CSRC) has revised regulations on public offering securities investment fund sales fees, effective from January 1, 2026, to reduce investor costs [2] - The CSRC has announced the pilot program for commercial real estate investment trusts (REITs), marking a significant step in market practice [2] - The Ministry of Culture and Tourism reported that during the 2026 New Year holiday, domestic travel reached 142 million trips, with total spending of 84.789 billion yuan [2] Company Insights - The report covers the performance of major companies in the securities sector, noting that the top ten real estate companies achieved sales exceeding 100 billion yuan in 2025, indicating resilience among leading firms [2] - The report mentions that the company has a strong financial performance, with revenue increasing from less than 300 million yuan in 2019 to over 1.5 billion yuan in 2024, while maintaining a low debt-to-asset ratio [16][18] - The company is expected to benefit from a recovery in domestic demand and is positioned to capture opportunities in the international market due to the aging fleet of chemical tankers globally [15][18] Investment Strategy - The report suggests that the securities industry may see more policy support in 2026, which could significantly influence industry performance and valuation recovery [10][11] - It is recommended to focus on head institutions within the industry that are innovating and adapting to market changes, with a particular emphasis on value stocks that remain undervalued [11]

Group 1 - The State Council issued the "Solid Waste Comprehensive Management Action Plan" to enhance solid waste management and promote green transformation by 2030 [1][2] - The plan aims for significant improvements in solid waste management capabilities, with a target of 4.5 billion tons of annual comprehensive utilization of major solid waste and 510 million tons of annual recycling of main renewable resources by 2030 [1] - The plan emphasizes source reduction of industrial solid waste, strict enforcement of policies to eliminate outdated production capacity, and promotes green design and production process improvements [1][2] Group 2 - The plan includes the establishment of a standardized urban solid waste recycling and transportation system, enhancing waste classification and resource utilization [2] - It promotes the integration of waste collection points with recycling networks and the development of an "Internet + Recycling" model [2] - The plan aims to strengthen the comprehensive utilization of major solid waste, including smelting slag, tailings, and construction waste, while promoting diversified utilization of coal gangue and straw [2][3] Group 3 - The plan calls for the promotion of recycled materials, establishing standards and certification systems for recycled materials, and integrating their application into corporate social responsibility [3] - It encourages the inclusion of more eligible recycled materials in government green procurement and explores information traceability for recycled materials [3] Group 4 - The State Administration for Market Regulation and other departments released the "Enterprise Cancellation Guidelines (2025 Revision)" to enhance the standardization and convenience of enterprise exit procedures [4][5] - The guidelines aim to clarify the basic procedures for market exit, liquidation processes, and cancellation registration, improving transparency and predictability for enterprises [4][5] Group 5 - The guidelines incorporate successful practices from local experiences to address complex situations in enterprise cancellation, providing targeted solutions to streamline the process [6] - They offer three types of cancellation processes: ordinary cancellation, simplified cancellation, and "one-stop" cancellation, enhancing service precision for different types of enterprises [6] Group 6 - The "Modern Logistics Standardization Key Work Plan (2025-2027)" was jointly issued to support the digital transformation and intelligent upgrade of logistics enterprises [7][8] - The plan focuses on five major areas, including enhancing logistics infrastructure, innovating logistics equipment standards, and improving logistics data sharing [7][8] Group 7 - The plan emphasizes the development of standards for cold chain logistics, pharmaceutical logistics, and multi-modal transport to enhance the resilience and safety of supply chains [8] - It aims to improve logistics industry foundations by refining documentation, classification, and statistical monitoring standards [8]

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 周一开盘后，碳酸锂高开高走，领涨有色金属板块，日内最大涨幅超6%。从上涨逻辑来看，据中国政 府网消息，国务院日前印发了《固体废物综合治理行动计划》，其中提到推动重有色金属矿采选一体化 建设，促进尾矿就近充填回填，原则上不再批准建设无自建矿山、无配套尾矿利用处置设施的选矿项 目。在供应端延续收紧预期的情况下，碳酸锂再次反弹，后续继续关注矿端相关政策进展。 基本面来看，2025年12月碳酸锂去库节奏逐步放缓，进入2026年1月，供需均有转弱，特别是如果考虑5 家正极厂计划检修情况以及从电池端动力排产来看，需求各环节均有转弱。从碳酸锂月度供需平衡表来 看，2025年12月去库接近6千吨，而2026年1月将从去库逐步转向累库，按照目前初步估算来看预计至少 累库约5千吨左右，基本面的边际转弱或将对价格反弹形成压制。尽管目前价格可能导致储能IRR下 降，装机有潜在放缓的可能性，但是终端需求情况短期并无法证伪，同时，正极端的采销定价机制和加 工费方面仍未有定论，因此，从目前的库存结构和中长期看多锂价的交易逻辑之下，碳酸锂跌价后或仍 将出现备货需求，关注1月库 ...

Group 1 - The State Council issued the "Solid Waste Comprehensive Governance Action Plan" to strengthen environmental law enforcement and supervision, aiming to combat illegal activities related to solid waste [1] - The plan emphasizes strict enforcement of laws and regulations regarding solid waste pollution prevention and establishes a cross-departmental regulatory mechanism to address illegal dumping across provinces [1] Group 2 - ByteDance reported internal violations for Q3 2025, with 120 employees dismissed for breaching company policies, including 14 individuals referred to judicial authorities for criminal offenses [1] - The company has communicated the information to industry alliances and revoked stock options for the involved employees [1] Group 3 - 25 A-share listed companies, including Shunxin Agriculture and CITIC Securities, revised their ESG guidelines or management measures during the specified period [2] - Companies like Dongsheng Technology and Crystal Optoelectronics have set clear responsibilities for ESG management and accountability for failing to meet ESG targets [2] Group 4 - Yibin Paper announced plans to appeal a criminal judgment regarding its subsidiary Huijie Environmental Protection, which was fined 100,000 RMB for environmental pollution [3] - The company believes there were errors in the judgment and intends to seek a retrial [3] Group 5 - A total of 3,767 A-share listed companies distributed cash dividends amounting to 2.6 trillion RMB in 2025 [5] - Industrial and Commercial Bank of China led the dividend payouts with 160.169 billion RMB, followed by China Construction Bank with 149.359 billion RMB and Agricultural Bank of China with 126.484 billion RMB [5]

Group 1: Solid Waste Management and Environmental Regulations - The State Council issued the "Comprehensive Action Plan for Solid Waste Management," emphasizing strict enforcement of environmental laws and regulations related to solid waste pollution prevention [1] - The plan includes measures to strengthen supervision across all stages from production to disposal and to crack down on illegal activities such as unauthorized discharges [1] - The ecological environment department will oversee cases causing severe ecological damage and pollution, implementing joint regulatory mechanisms across departments and regions [1] Group 2: Corporate Governance and ESG Initiatives - A total of 25 A-share listed companies revised their ESG committee guidelines or management measures, including prominent firms like Shunxin Agriculture and CITIC Securities [2] - Companies such as Bosch and Dangseng Technology have established specific ESG management topics, with Water Crystal Optoelectronics holding individuals accountable for failing to meet ESG targets [2] Group 3: Legal and Financial Issues in Companies - Yibin Paper announced its subsidiary Huijie Environmental Protection intends to appeal a criminal judgment for environmental pollution, which resulted in a fine of 100,000 RMB [3] - ST Rendo disclosed that its subsidiary Guangzhou Heli Bao was fined a total of 74.88 million RMB for multiple regulatory violations, including breaches of clearing management regulations [4] Group 4: Dividend Distribution in A-Share Market - In 2025, A-share listed companies distributed a total of 2.6 trillion RMB in cash dividends, with 3,767 companies participating [5] - Industrial and Commercial Bank of China led the dividend payouts with 160.17 billion RMB, followed by China Construction Bank and Agricultural Bank of China with 149.36 billion RMB and 126.48 billion RMB, respectively [5]

针对历史遗留问题，《行动计划》部署了专项整治行动。要求摸清全国大宗工业固废堆存场所底数，实施"一 场（矿）一策"隐患排查，计划到2030年完成60%以上的历史遗留堆存场所治理。同时，深入推进磷石膏综合治 理，要求云南、湖北、贵州、四川、安徽、重庆等地区在2027年前完成存量磷石膏库整治。 此外，《行动计划》还强调要强化科技创新支撑，加强固废循环利用及重金属污染治理关键技术研发，为治理 工作提供强有力的技术保障。 针对国务院此次发布的重磅文件，行业分析人士指出："这不仅是'无废城市'建设的深化，更是循环经济产业爆 发的新起点。《行动计划》的发布意味着固体废物治理从过去的'末端处置'转向了'全过程管理'，特别是强调了 资源化利用的优先地位。设定45亿吨的大宗固废综合利用量和5.1亿吨的再生资源循环利用量，这两个具体指标 背后是万亿级的潜在市场空间。" 【环球网财经综合报道】据中国政府网消息，国务院日前正式印发《固体废物综合治理行动计划》（以下简称 《行动计划》）。作为我国首个系统部署固体废物综合治理的政策文件，该计划是为构建"源头减量、过程管 控、末端利用"的全链条治理体系，标志着我国固体废物治理正式迈入系统治理 ...