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 来源：CFC商品策略研究 《2026年1月4日，观新疆：二师铁门关市："保险+期货"助力枣农稳收增收》 《2026年1月14日，一师13团微平台：十三团红枣"保险+期货"助力枣农增收》 二师最终每亩地赔付231.98元，一师13团每亩地赔付约214.55元（"34亩地赔了7295块" ）。 这些报道亦侧面印证了本产季客商收购成本相对偏低的情况。 作者 | 中信建投期货研究发展部 陈宇灏 本报告完成时间 | 2026年1月23日 重要提示：本报告观点和信息仅供符合证监会适当性管理规定的期货交易者参考。因本平台暂时无法设 置访问限制，若您并非符合规定的交易者，为控制交易风险，请勿点击查看或使用本报告任何信息。对 由此给您造成的不便表示诚挚歉意，感谢您的理解与配合！ 25/26产季的收购季受10月下旬~11月受期货盘面快速下行影响，客商收购意愿明显下行，转向谨慎，延 后收购。 而由于红枣产业链中果农对于时间较为敏感，一旦长期无人收购，则不得不放弃前期的惜售挺价情绪， 接受更低的成交价格（12月产区价格低于11月）。 故，从收购博弈结果来看，客商在25 ...

Core Viewpoint - The launch of lithium carbonate futures has significantly impacted the lithium battery industry, providing a crucial pricing benchmark and enhancing risk management capabilities for enterprises in the sector [1][6]. Industry Impact - Since its launch on July 21, 2023, lithium carbonate futures have become a widely recognized pricing benchmark in the domestic lithium battery industry and gained international recognition as a key reference for global lithium carbonate trade [1][6]. - The futures market has enabled companies to effectively hedge against price volatility, thus injecting confidence into the lithium battery supply chain and supporting high-quality development [1][4]. Market Participation - The participation of general corporate clients in the futures market has increased significantly, with average daily positions rising from 18.50% in 2023 to 49.63% in 2025, reflecting a growing awareness of risk management tools among lithium industry enterprises [3][4]. - As of now, 71 listed lithium companies have announced plans to engage in lithium carbonate futures hedging, marking a 208% increase from 23 companies at the end of 2023 [4]. Pricing Mechanism - The pricing mechanism based on lithium carbonate futures has evolved into a mainstream trading model across the entire industry chain, demonstrating the industry's proactive embrace of innovative models [9]. - The futures price has become a "rigid anchor" in international trade, influencing pricing strategies in markets such as Africa and Australia, where companies now base their pricing on futures prices [6][7]. Support and Training Initiatives - The exchange has initiated various support measures, including the "Green to New" industry service plan, which aims to enhance the understanding and participation of key lithium battery enterprises in the futures market [9][10]. - Training programs have been conducted to improve the knowledge of local state-owned enterprises and listed companies regarding the futures market, with over 1,100 participants involved in specialized training sessions [10]. Future Outlook - The exchange plans to continue optimizing its services and enhancing the market's ability to support lithium battery enterprises in managing market risks and achieving high-quality development [11].