周度报告—碳酸锂 供应压力影响短期预期，盘面高位回调 | | | 报告日期： 2025 年 12 月 7 日 [Table_Summary] ★供应压力影响短期预期，盘面高位回调 上周（11/24-11/28）锂盐价格呈偏弱走势。LC2512 收盘价环比 -4.1%至 9.07 万元/吨，LC2601 收盘价环比-4.1%至 9.08 万元/吨； SMM 电池级及工业级碳酸锂现货均价环比-0.5%至 9.33、9.08 万 元/吨。氢氧化锂价格跟随上行，SMM 粗颗粒及微粉型电池级氢 氧化锂均价环比分别+0.1%、+0.1%至 8.21、8.69 万元/吨。电工 价差环比持平至 2,450 元/吨。电池级氢氧化锂较电池级碳酸锂 价格贴水环比缩窄 550 元至 1.1 万元/吨。 据智利海关，11 月智利共出口碳酸锂及氢氧化锂 2.0 万吨，环比 -27%，同比-14%；其中对中国出口 1.47 万吨，环比-9.4%，同比 -13%，对应 12 月到港量环比预计下滑。1-11 月智利合计出口碳 酸锂及氢氧化锂 23.5 万吨，同比-2%；其中对中国出口 15.2 万吨， 同比-15%。 上周盘面呈偏弱回调，消息 ...

Core Viewpoint - The lithium carbonate price has surged due to the production halt at Ningde Times' Yichun mining area, leading to a recovery in the lithium salt market [1][2] Company Summary - Jiangte Electric (002176.SZ) announced that its wholly-owned subsidiary Yichun Yinli will resume production soon, with the lithium salt plant expected to be profitable given the current market conditions [1] - The company had previously announced a 26-day equipment maintenance period for Yichun Yinli starting July 25, aimed at improving operational efficiency and reducing costs [1] - In 2024, Jiangte Electric's revenue from lithium mining and salt manufacturing was reported at 1.049 billion yuan, accounting for 49.87% of total revenue, a decrease of 36.26% from 2023 [2] Industry Summary - Lithium carbonate is a key raw material for lithium batteries, widely used in electric vehicles, energy storage, and consumer electronics [2] - The price of battery-grade lithium carbonate has stabilized around 86,500 yuan/ton, with futures contracts showing an upward trend, reaching a peak of 90,100 yuan/ton [2] - Analysts suggest that lithium prices are unlikely to exceed 90,000 yuan/ton due to profitability concerns for global lithium mines, while prices above 80,000 yuan/ton are considered balanced for both upstream and downstream players [3] - South American countries like Chile and Argentina are planning to add significant lithium production capacity, which is expected to support global supply [3]