Market Overview - On February 11, the domestic lithium carbonate spot market saw a slight increase, with battery-grade lithium carbonate (99.5%) settling at 142,500 yuan/ton, up 500 yuan from the previous working day. The price of battery-grade lithium hydroxide (56.5% coarse particles) remained stable at 140,000 yuan/ton, indicating a tight supply of spot resources [1][4]. - In the futures market, lithium carbonate futures prices surged, with the main contract closing at 150,260 yuan/ton, an increase of 12,640 yuan from the previous working day. The trading volume this week was significantly lower than last week, with warehouse receipts remaining at a high level [1]. Price Trends - The price changes for various lithium products from February 10 to February 11 are as follows: - Lithium concentrate: 1,930 yuan/ton (unchanged) - Battery-grade lithium carbonate: 142,500 yuan/ton (up 0.05%) - Lithium hydroxide: 140,000 yuan/ton (unchanged) - Lithium iron phosphate: 5,090 yuan/ton (up 0.01%) - Ternary materials: 20,250 yuan/ton (unchanged) - Prismatic energy storage cells (lithium iron phosphate): 375 yuan/unit (unchanged) [4]. Industry Insights - The China Association of Automobile Manufacturers reported that in January 2026, the production and sales of new energy vehicles in China reached 1.041 million and 945,000 units, respectively, representing year-on-year growth of 2.5% and 0.1%. Additionally, new energy vehicle exports maintained rapid growth, with 302,000 units exported, a year-on-year increase of 100% [7]. - The recent rebound in lithium prices is seen as a correction following a previous 30% decline. Despite a reduction in production schedules for February, downstream users are actively replenishing inventory, leading to a gradual decrease in lithium carbonate market inventory, with particularly tight supplies of lithium hydroxide [8]. - A recent two-year sales agreement between Tianyi Lithium Industry and an Australian mine, with a minimum price of $1,000 (equivalent to 88,000 yuan for lithium carbonate), indicates a positive outlook for the lithium salt market, suggesting optimism from both supply and demand sides for the next two years [8]. - The industry believes that a lithium price around 150,000 yuan is acceptable for the entire supply chain. However, further increases will depend on energy storage companies' ability to absorb rising costs [9].