Market Changes - On January 30, the spot settlement guidance price for battery-grade lithium carbonate (99.5%) was 158,500 CNY/ton, a decrease of 6,000 CNY from the previous working day, influenced by a continuous decline in market conditions, leading to increased selling enthusiasm among some traders, while major lithium salt manufacturers remain in a supply-demand imbalance [1] - The settlement guidance price for battery-grade lithium hydroxide (56.5% coarse particles) was 158,000 CNY/ton, down 3,000 CNY from the previous working day [1] - In the futures market, most contracts hit the limit down, with the main contract closing at 148,200 CNY/ton, a drop of 18,300 CNY from the previous working day, and a noticeable decrease in open interest [1] - The net short position for lithium carbonate main contracts decreased by 29.5%, indicating a weakening of short-term downward momentum [1] ICC Lithium Battery Settlement Prices - The prices for various lithium products on January 30 compared to January 29 are as follows: - Lithium concentrate: 2,170 CNY/ton, down 40 CNY - Battery-grade lithium carbonate (99.5%): 15.85 CNY/kg, down 0.6 CNY - Lithium hydroxide (56.5%): 15.8 CNY/kg, down 0.3 CNY - Lithium iron phosphate (power type): 5.36 CNY/kg, down 0.1 CNY - Ternary materials: 20.75 CNY/kg, down 0.2 CNY - Prismatic energy storage cells (lithium iron phosphate): 0.375 CNY/Wh, unchanged [2] Industry Focus - In Australia, the lithium ore shipment volume from Bunbury Port in January 2026 was 158,900 tons, representing a month-on-month increase of 58.58% and a year-on-year increase of 0.69% [5] Company Insights - The current average price level for energy storage cells indicates that second-tier companies can withstand lithium carbonate prices around 154,000 CNY [4] - The recent drop in lithium carbonate prices is attributed to the decline in precious metals and increased financial regulation, as well as the acceptance levels of downstream users. Rapid price increases have led to some energy storage projects being stalled, potentially affecting short-term project deliveries [6] - Looking ahead, various regions are gradually implementing energy storage capacity compensation policies, which are expected to raise the internal rate of return (IRR) conservatively by 1%-2%, with some areas seeing higher adjustments. The implementation of energy storage subsidy policies is likely to significantly influence the price trends of lithium carbonate in February and March [6]

内蒙古 1 吉瓦 6 吉瓦时规模的大型储能项目根据当地政策进行测算，其实际收 益按照每天一次完整充放，一年 300 次来计算。通过这种方式，该项目折算后 的容量定价水平达到每千瓦 600 元以上，是目前全国最高水平。 Q&A 当前国内储能项目的容量电价政策有哪些省份已经出台？这些政策对储能项目 的经济性有何影响？ 今年（2025 年），国内储能项目的容量电价政策逐渐扩散，最新出台政策的 是宁夏，每千瓦每年 165 元。更早一些的是甘肃，每千瓦每年 330 元。这些 容量电价是长期存在的，对发电侧的一些固定补偿，绝大部分省份都有，大概 是每千瓦每年 100 元左右。对于独立储能电站来说，它们也应享有这样的补偿 政策。今年（2025 年），内蒙古、甘肃和宁夏等省份开始调高了容量电价水 平，例如内蒙古自治区独立新型储能电站实施细则规定纳入示范项目的电网侧 独立储能电站享受容量补偿，按照放电量计算，补偿上限暂时为每千瓦时 0.35 元，补偿期限为 10 年。根据测算，这些项目最终折算成每千瓦的容量定价水 平达到 600 元以上，与抽水蓄能相近。 电芯供应紧张导致小订单价格上涨，但大订单价格稳定在每瓦时 0.31- 0 ...