本报讯 （记者郭冀川）9月28日，据工信微报消息，工业和信息化部等八部门近日联合印发《有色金属 行业稳增长工作方案（2025—2026年）》（以下简称《方案》）。《方案》提出，2025年至2026年，有 色金属行业增加值年均增长5%左右，经济效益保持向好态势，十种有色金属产量年均增长1.5%左右， 铜、铝、锂等国内资源开发取得积极进展，再生金属产量突破2000万吨，高端产品供给能力不断增强， 绿色低碳、数字化发展水平持续提升。 为推进目标贯彻落实，《方案》提出三方面保障措施。 一是加强组织保障。指导地方结合实际，细化落实稳增长目标任务，制定完善政策配套措施。发挥重点 企业和行业协会作用，推动上下游产业协同发展，强化行业自律。 二是加强政策支持。统筹利用超长期特别国债等现有资金渠道，新材料首批次保险补偿等政策，用足用 好现有减税降费政策。做好重要品种国家储备，加强相关国有企业考核引导，实施制造业人才支持计 划。 有色金属行业是重要的基础性产业，资源种类众多、产业关联度高、战略价值突出。近年来，我国有色 金属行业快速发展，已成为全球最大的有色金属生产国和消费国。出台《方案》，旨在统筹做优增量和 盘活存量，推动新旧 ...

Core Insights - The equipment manufacturing industry in Liaocheng is experiencing rapid growth, with projected revenue of 31.84 billion yuan in 2024, representing a growth rate of 7.1%, and a revenue of 17.688 billion yuan in the first half of 2025, showing a year-on-year increase of 18.9% [1][2] Industry Growth and Development - The industry has established a complete and distinctive supply chain, including segments such as agricultural machinery, engineering machinery, laser equipment, and wire and cable, with market share continuously increasing under the leadership of key enterprises like Shifeng Group [1][2] - The brand influence of the equipment manufacturing sector is growing, with 12 national-level "little giant" enterprises, 29 provincial-level "gazelle" enterprises, 21 provincial-level single champion enterprises, and 104 specialized and innovative enterprises [1] Export and Market Expansion - The equipment manufacturing industry is actively expanding into overseas markets, with significant export growth in agricultural and engineering machinery. In the first quarter, Shifeng Group's foreign trade increased by 97%, and three-wheeled vehicle exports rose by over 60% [2] - Diesel engine exports grew nearly 1.5 times, and tractor sales in Eastern Europe and North Africa increased by 20%. Dual Power Modern Agricultural Equipment has also expanded its foreign trade, exporting over 30 million yuan in the first half of the year [2] Project Development and Innovation - Major projects are continuously generating new development momentum and expanding industry boundaries, contributing to high-quality economic development. Key projects include the intelligent precision spring project by Xindadi and the green and intelligent electric excavator project by Kenstone Heavy Industry [2] Regulatory Support and Industry Enhancement - The Municipal Market Supervision Administration is focusing on supporting the development of the equipment manufacturing industry by implementing targeted measures to enhance quality and competitiveness. This includes a "10+7" initiative aimed at promoting high-quality development in specific sub-sectors [3][4] - The administration is adopting a service-oriented regulatory approach, providing compliance guidance and tailored service measures to improve enterprise perception and support industry quality enhancement [4]

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - The lithium carbonate market remains in a situation of weak supply and light demand, with industrial inventories slightly accumulating and remaining at a high level. The main contract of lithium carbonate showed a weak weekly oscillation, with a weekly decline of 0.83% and an amplitude of 3.81%, closing at 59,940 yuan/ton [5]. - The macro - environment aims to enhance the resilience and safety of the industrial chain. On the raw material side, overseas mines are holding firm on prices and reducing shipping willingness, while smelters have weak purchasing sentiment due to sufficient inventories. The supply is expected to be high in the short - term and then gradually decline, and the demand is weak due to the off - season [5]. 3. Summary by Directory 3.1. Weekly Highlights - **Market Review**: The main contract of lithium carbonate showed a weak weekly oscillation, with a weekly decline of 0.83% and an amplitude of 3.81%, closing at 59,940 yuan/ton [5]. - **Market Outlook**: The supply is expected to be high in the short - term and then gradually decline. The demand is weak due to the off - season, and the inventories are at a high level [5]. - **Strategy Recommendation**: Adopt a light - position oscillating strategy, selling short on rallies, and pay attention to trading rhythm and risk control [5]. 3.2. Futures and Spot Market - **Futures Market**: As of June 13, 2025, the closing price of the main contract of lithium carbonate was 59,940 yuan/ton, a week - on - week decrease of 500 yuan/ton. The near - far month spread was 40 yuan/ton, a week - on - week increase of 140 yuan/ton [10]. - **Spot Market**: As of June 13, 2025, the average price of battery - grade lithium carbonate was 60,650 yuan/ton, a week - on - week increase of 450 yuan/ton. The basis of the main contract was 710 yuan/ton, a week - on - week increase of 950 yuan/ton [17]. 3.3. Upstream Market - **Lithium Spodumene**: As of June 13, 2025, the average price of lithium spodumene concentrate (6% - 6.5%) was 697 US dollars/ton, a week - on - week decrease of 15 US dollars/ton [21]. - **Lithium Mica and Lithium Aluminum Phosphate**: As of June 13, 2025, the average price of lithium aluminum phosphate was 6,595 yuan/ton, a week - on - week increase of 55 yuan/ton. The average price of lithium mica (Li₂O: 2.0% - 3%) was 1,576 yuan/ton, a week - on - week increase of 21 yuan/ton [26]. 3.4. Industry Situation - **Supply Side**: As of April 2025, the monthly import volume of lithium carbonate was 28,335.89 tons, a month - on - month increase of 10,210.4 tons (56.33%) and a year - on - year increase of 33.63%. The monthly export volume was 734.289 tons, a month - on - month increase of 514.26 tons (233.72%) and a year - on - year increase of 112.99%. The monthly output was 47,900 tons, a month - on - month increase of 4,720 tons (10.93%) and a year - on - year increase of 2.68%. The monthly operating rate was 43%, a month - on - month decrease of 5% and a year - on - year decrease of 32% [31]. - **Demand Side** - **Intermediate Products**: As of June 13, 2025, the average price of lithium hexafluorophosphate remained flat week - on - week. The monthly output of electrolyte in April 2025 was 160,900 tons, a month - on - month increase of 4,000 tons (2.55%) and a year - on - year increase of 34.96%. The average price of lithium iron phosphate (power type) remained flat week - on - week. The monthly output of lithium iron phosphate cathode materials in April 2025 was 196,600 tons, a month - on - month increase of 18,000 tons (10.08%) and a year - on - year increase of 19.73%. The monthly operating rate was 47%, a month - on - month decrease of 10% and a year - on - year decrease of 8%. Some prices of ternary materials weakened, and the monthly output in April 2025 was 62,500 tons, a month - on - month increase of 8,450 tons (15.63%) and a year - on - year increase of 15.53%. The monthly operating rate was 53%, a month - on - month increase of 5% and a year - on - year decrease of 4%. The average price of lithium manganate remained flat week - on - week, and the monthly output in April 2025 was 10,500 tons, a month - on - month increase of 830 tons (8.58%) and a year - on - year increase of 46.65%. The average price of lithium cobaltate was 215,000 yuan/ton, a week - on - week decrease of 5,000 yuan/ton. The monthly output in April 2025 was 11,800 tons, a month - on - month increase of 4,630 tons (64.57%) and a year - on - year increase of 66.2% [34][37][42][47][50]. - **Application End**: As of May 2025, the penetration rate of new energy vehicles was 43.99%, a month - on - month increase of 1.25% and a year - on - year increase of 10.11%. The monthly output was 1,270,000 vehicles, a month - on - month increase of 1.52%, and the sales volume was 1,307,000 vehicles, a month - on - month increase of 6.61%. The cumulative export volume was 855,000 vehicles, a year - on - year increase of 64.74% [52][58]. 3.5. Options Market - The implied volatility of at - the - money lithium carbonate options is below the 50th percentile, and there is a possibility of increased volatility in the future. It is recommended to construct a long straddle option strategy to bet on increased volatility [61].

Group 1 - The meeting emphasized the importance of focusing economic development on the real economy, aiming to consolidate and enhance traditional industries [1] - There is a call for the widespread application of digital and green technologies, accelerating the transformation of production, management, and marketing models, as well as process reengineering [1] - The integration of modern service industries with advanced manufacturing is encouraged to revitalize traditional advantageous industries [1] Group 2 - The meeting advocates for the orderly development of strategic emerging industries and future industries [1] - It highlights the need for in-depth implementation of industrial renewal actions to foster the growth of startup companies, leading enterprises, and unicorn companies [1]