Group 1: Industry Investment Rating - No information provided about the industry investment rating Group 2: Core Viewpoints - The contradiction in lithium carbonate warehouse receipts still exists, and the oscillating trend continues [1] - The trend strength of lithium carbonate is 0, indicating a neutral stance [3] Group 3: Summary by Relevant Catalogs Fundamental Tracking - The closing price of the 2507 contract is 61,180, with a change of 160 compared to T - 1; the trading volume is 28,735, a decrease of 26,486; the open interest is 47,834, a decrease of 12,244 [1] - The closing price of the 2509 contract is 60,880, with a change of 180 compared to T - 1; the trading volume is 366,743, a decrease of 315,004; the open interest is 350,406, an increase of 6,842 [1] - The warehouse receipt volume is 22,370, a decrease of 5 compared to T - 1 [1] - The spot - 2507 is - 980, with a change of 140 compared to T - 1; the spot - 2509 is - 680, with a change of 120 [1] - The 2507 - 2509 basis is 300, a decrease of 20 compared to T - 1; the electric carbon - industrial carbon is 1,600, with no change [1] - The price of spodumene concentrate (6%, CIF China) is 619, an increase of 2 compared to T - 1; the price of lithium mica (2.0% - 2.5%) is 1,210, an increase of 20 [1] - The price of battery - grade lithium carbonate is 60,200, an increase of 300 compared to T - 1; the price of battery - grade lithium carbonate (CIF) is 8,000, with no change [1] - The price of industrial - grade lithium carbonate is 58,600, an increase of 300 compared to T - 1; the price of battery - grade lithium hydroxide (micropowder) is 63,420, a decrease of 300 [1] - The price of battery - grade lithium hydroxide (CIF) is 8,130, a decrease of 20 compared to T - 1; the price of lithium iron phosphate (power type) is 30,230, an increase of 70 [1] - The price of lithium iron phosphate (mid - high - end energy storage type) is 28,780, an increase of 70 compared to T - 1; the price of lithium iron phosphate (low - end energy storage type) is 26,580, an increase of 70 [1] - The price of ternary material 523 (polycrystalline/consumer type) is 105,210, an increase of 50 compared to T - 1; the price of ternary material 622 (polycrystalline/consumer type) is 110,950, with no change [1] - The price of ternary material 811 (polycrystalline/power type) is 142,690, a decrease of 70 compared to T - 1; the price of lithium hexafluorophosphate is 51,700, with no change [1] - The price of electrolyte (for ternary power) is 21,900, with no change compared to T - 1; the price of electrolyte (for lithium iron phosphate) is 17,950, with no change [1] Macro and Industry News - The SMM battery - grade lithium carbonate index price is 60,311 yuan/ton, a daily increase of 360 yuan/ton; the average price of battery - grade lithium carbonate is 60,200 yuan/ton, a daily increase of 300 yuan/ton; the average price of industrial - grade lithium carbonate is 58,600 yuan/ton, a daily increase of 300 yuan/ton [2] - The Ministry of Commerce has organized the 2025 New Energy Vehicle Consumption Season in thousands of counties and ten thousand towns from July to December 2025, including measures such as implementing the trade - in policy, promoting reform pilot projects, and creating diverse consumption scenarios [3]

Group 1 - Federal Reserve Chairman Jerome Powell indicated that a weak labor market and declining inflation could lead to earlier interest rate cuts, with most policymakers believing a rate cut later this year is appropriate [4] - U.S. stock markets saw significant gains, with the Nasdaq rising 1.43%, the Dow Jones up 1.19%, and the S&P 500 increasing by 1.11%, marking new closing highs for the Dow since March and for the S&P 500 and Nasdaq since February [4] - Major tech stocks performed well, with Intel rising over 6%, and other companies like Nvidia, Netflix, and Amazon increasing by over 2% [4] Group 2 - International gold prices fell, with spot gold down 1.33% to $3322.63 per ounce, and COMEX gold futures dropping 1.66% to $3338.5 per ounce [5] - International oil prices also saw a significant decline, with WTI crude oil down 5.11% to $65.01 per barrel, and Brent crude oil falling 5.19% to $66.86 per barrel [5] Group 3 - The European stock indices closed higher, with Germany's DAX up 1.6% to 23641.58 points, France's CAC40 rising 1.04% to 7615.99 points, and the UK's FTSE 100 slightly up by 0.01% to 8758.99 points [6] Group 4 - Goldman Sachs maintains an overweight stance on Chinese stocks, citing resilience in China's economy and the likelihood of further policy support in the second half of the year to counteract uncertainties from tariff policies [17] - Apple has launched a national subsidy program offering up to 2000 yuan off selected products, aiming to stimulate consumer spending and enhance sales [18][19] Group 5 - Ant Group has reduced its stake in ZhongAn Online by approximately 33.75 million shares, lowering its ownership to 7.63%, with the company stating this is part of optimizing capital allocation [20] - JD Logistics has begun recruiting full-time riders for its food delivery service, aiming to improve service quality and enhance competitiveness [21] Group 6 - Hillhouse Capital has expressed interest in acquiring Starbucks' China business, which could significantly impact Starbucks' future growth and reshape the coffee market landscape [22] - Nvidia's CEO Jensen Huang sold 100,000 shares of the company, totaling over $14 million, with plans to sell an additional 50,000 shares [23][24] Group 7 - The Asian Infrastructure Investment Bank (AIIB) has elected Zou Jiayi as its next president, set to take office in January 2026 for a five-year term [25] - Guotai Junan's chief economist Xun Yugen is reportedly leaving the company, indicating potential shifts in the firm's economic strategy [26] Group 8 - He Yuan Biotechnology is set to have its IPO application reviewed on July 1, aiming to list under the fifth set of standards on the STAR Market [27][28] - Yonghui Supermarket plans to complete the renovation of 200 stores by September 30, with an average of one store renovation per day in the third quarter [29]