Report Summary 1) Report Industry Investment Rating - The trend strength of lithium carbonate is rated as "1", indicating a "moderately strong" outlook, with a range of [-2, 2] where -2 is most bearish and 2 is most bullish [3]. 2) Core View of the Report - Lithium carbonate's basis is stable and the market is trending moderately strong [1]. 3) Summary by Relevant Catalogs Fundamental Tracking - **Futures Contracts**: The closing prices of the 2511 and 2601 contracts are 81,740 and 82,900 respectively. The trading volume of the 2511 contract decreased by 21,579, while the 2601 contract decreased by 69,886. The open interest of the 2511 contract decreased by 10,759, and the 2601 contract increased by 18,079 [1]. - **Warehouse Receipts**: The warehouse receipt volume is 27,525 hands, an increase of 190 compared to the previous day [1]. - **Basis**: The basis between spot and 2511 contract is -2,590, and between spot and 2601 contract is -3,750. The basis between 2511 and 2601 contracts is -1,160 [1]. - **Raw Materials**: The price of lithium spodumene concentrate (6%, CIF China) is 928, an increase of 3. The price of lithium mica (2.0% - 2.5%) is 2,130, an increase of 65 [1]. - **Lithium Salts**: The price of battery - grade lithium carbonate is 79,150, an increase of 650. The price of industrial - grade lithium carbonate is 76,950, an increase of 650 [1]. - **Downstream Products**: The prices of various downstream products such as ternary materials and lithium hexafluorophosphate also showed different degrees of changes. For example, the price of lithium hexafluorophosphate is 103,000, an increase of 2,500 [1]. Macro and Industry News - **Lithium Carbonate Price**: The SMM battery - grade lithium carbonate index price is 79,207 yuan/ton, a daily increase of 654 yuan/ton. The average price of battery - grade lithium carbonate is 7.915 million yuan/ton, a daily increase of 650 yuan/ton. The average price of industrial - grade lithium carbonate is 7.695 million yuan/ton, a daily increase of 650 yuan/ton [2]. - **Liontown Resources**: In Q3 2025, Kathleen Valley produced 87,200 tons of lithium concentrate, a 1.5% increase. It sold 77,500 tons, a 20.4% decrease. The recovery rate reached 70%. The FOB operating cost was 715 dollars/ton, a 21.7% increase. The average CIF price of SC6 was 700 dollars/ton. The open - pit mine will be mined out next quarter, and underground mining volume will increase by 105%. Future production, recovery rate, and operating efficiency are expected to improve, and the annual FOB operating cost will decline [3].

富宝资讯：今日碳酸锂基差报价暂稳，现货市场交投氛围清淡 金十期货5月9日讯，富宝资讯数据显示：富宝碳酸锂基差指数为510元/吨（平）；富宝电碳现货基差 LC07-矿石料均价650元/吨（平），富宝电碳现货基差LC07-卤水料均价150元/吨（平），富宝电碳现货 基差LC07-回收料均价200元/吨（平）；富宝工碳现货基差LC07-综合料均价-800元/吨（平）；今日持 货商多维持上一交易日基差报价，锂价连续下挫导致下游观望心态渐浓，目前仅按需采购，成交较为一 般。 ...