Market Overview - On December 22, the spot settlement price for battery-grade lithium carbonate (99.5%) was 104,000 CNY/ton, an increase of 2,500 CNY/ton from the previous working day [1] - The settlement price for battery-grade lithium hydroxide (56.5% coarse particles) was 86,800 CNY/ton, up by 1,000 CNY/ton from the previous working day [1] - Lithium carbonate futures prices continued to show strength, with the main contract closing at 114,380 CNY/ton, an increase of 2,980 CNY/ton from the previous trading day, and open interest rose by 900 contracts to 16,411 contracts [1] Price Trends - The ICC lithium battery settlement prices showed the following changes: - Lithium concentrate increased from 1,265 CNY/ton to 1,320 CNY/ton, a rise of 55 CNY/ton [2] - Battery-grade lithium carbonate rose from 10.15 CNY/kg to 10.40 CNY/kg, an increase of 0.25 CNY/kg [2] - Lithium hydroxide increased from 8.58 CNY/kg to 8.68 CNY/kg, up by 0.10 CNY/kg [2] - Lithium iron phosphate rose from 3.91 CNY/kg to 4.06 CNY/kg, an increase of 0.15 CNY/kg [2] - Ternary materials increased from 16.7 CNY/kg to 16.9 CNY/kg, up by 0.20 CNY/kg [2] - The current average price level for battery cells indicates that the downstream tolerance for lithium carbonate prices is approximately 100,600 CNY [2] Industry Sentiment - The lithium battery sentiment index for the week of December 22-26 was 69.85, remaining in the optimistic range [6] - However, there are concerns about potential price volatility, leading some lithium salt companies to adopt a cautious outlook for the future [6] Company Developments - Tianqi Lithium's third phase of chemical-grade lithium concentrate expansion project was completed and officially began trial production on December 18, 2025, which will increase its total annual production capacity to 2.14 million tons [9] - Exar Mining in Argentina has officially applied to join a large investment incentive program (RIGI) to expand its lithium mining project in Jujuy Province [9] - In Australia, Hede Lan's lithium concentrate shipments in November were 154,600 tons, a 39.78% increase from October [9] Market Outlook - Recent market bullish sentiment has been fueled by delays in the resumption of the Jiangxia Mine [10] - However, the rapid increase in lithium carbonate futures prices has raised concerns, with the market basis widening to over 10,000 CNY, and some battery manufacturers have confirmed reductions for January [10] - Overall, the difficulty of lithium carbonate prices breaking through 120,000 CNY in the short term is considered high [10]

白厚善介绍，自7月份起，容百科技已以全新技术路线布局磷酸铁锂细分市场，产业化进程正加速推 进。公司开发的磷酸铁锂不仅适用于动力市场，也同样适用于储能场景。现在AI产业带动了对电力的 需求，对储能的需求会越来越大，公司目前开发的铁锂是可以用在储能领域的，尤其是高端储能市场。 目前容百科技在韩国忠州建有6万吨/年的三元正极产能和6000吨/年的前驱体产能，产线已按客户需求 建成并逐步爬坡；容百科技在波兰建设的年产2.5万吨三元正极项目进展顺利，主要生产设备已运抵施 工现场，预计将于明年上半年建成投产，规划产品方向为高镍和中镍三元材料。 同时，容百科技除与宁德时代新能源科技股份有限公司、孚能科技（赣州）股份有限公司、惠州亿纬锂 能股份有限公司等国内客户保持稳定合作外，海外客户开发也取得实质性进展，已与包括松下在内的日 韩主要电芯厂商及北美客户展开合作。 本报讯 （记者邬霁霞 见习记者王楠） 10月10日，宁波容百新能源科技股份有限公司（以下简称"容百科技"）召开投资者电话交流会。董事长 兼总裁白厚善在会上表示，未来全球锂电市场的增长前景相对明确，容百科技的产品在动力以及储能市 场均有竞争力。 白厚善认为，中国在锂电 ...