Report Summary 1) Report Industry Investment Rating - Short - term investment advice is to wait and see [12] 2) Core View of the Report - The futures market's irrational fluctuations continue. The current high - supply and high - inventory fundamentals are unfavorable for the long side, but the capital side and anti - involution policies are favorable for the long side [12] 3) Summary by Directory a. Market Review and Operation Suggestions - The lithium carbonate futures hit a low and then rebounded. The main contract dropped to 64,740 but turned positive in the afternoon. The total open interest decreased by 12,117 lots. The spot price center continued to rise, with electric carbon rising 250 to 64,900. The downstream's acceptance of current prices is low, and procurement demand is weak [12] - The price of Australian ore dropped slightly by 2.5 to 690 US dollars per ton. The profit per ton of external - purchase spodumene salt plants expanded to 571, and the loss of external - purchase mica salt plants narrowed to 6,818. The weekly output of lithium carbonate is expected to reach a new high [12] - Given the current situation, short - term investment advice is to wait and see [12] b. Industry News - Wealth Minerals (WML) and the Chilean Ollagüe indigenous community established a subsidiary, Kuska Minerals, to develop the Kuska lithium project. The new company's board includes community representatives, creating a new model for community participation in mining development [13] - The UK's Transport Secretary announced a £650 million subsidy plan on July 15, 2025. Eligible electric vehicles priced at £37,000 or less can get a maximum discount of £3,750 at the point of sale. The subsidy aims to support the goal of phasing out new gasoline and diesel vehicle sales by 2030 [13] - Ecocycle Group's EcoBatt company launched Australia's first professional lithium - battery discharge plant, providing a safe and sustainable solution for the disposal of end - of - life electric vehicle and energy - storage batteries [14]