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碳酸锂数据日报-20250526
Guo Mao Qi Huo· 2025-05-26 07:02
Report Summary 1. Report Industry Investment Rating - No investment rating provided in the report 2. Core View - The lithium market shows a slight de - stocking trend due to reduced supply and stable demand in the short term. Downstream acceptance of current prices is low, resulting in small spot trading volumes, and mine - end prices are continuously declining [3] 3. Summary by Related Catalogs Lithium Compound Prices - SMM battery - grade lithium carbonate has an average price of 63,050 with no change, and SMM industrial - grade lithium carbonate has an average price of 61,450 with no change [1] Lithium Ore Prices - Lithium spodumene concentrate (CIF China, Li20: 5.5% - 6%) is priced at 690 with no change. Lithium mica (Li20: 1.5% - 2.0%) is 705, lithium mica (Li20: 2.0% - 2.5%) is 1280, phosphorus lithium aluminum stone (Li20: 6% - 7%) is 6025, and phosphorus lithium aluminum stone (Li20: 7% - 8%) is 7050 [1][2] Positive Electrode Material Prices - The average price of lithium iron phosphate (power type) is 31,030, the average price of ternary material 811 (polycrystalline/power type) is 145,550 with a decrease of 60, the average price of ternary material 523 (single - crystal/power type) is 115,745, and the average price of ternary material 613 (single - crystal/power type) is 122,835 with a decrease of 50 [2] Futures Contract Prices - Lithium carbonate 2506 has a closing price of 60,980 with a decline of 1.36%, lithium carbonate 2507 has a closing price of 60,960 with a decline of 1.65%, lithium carbonate 2508 has a decline of 1.43%, lithium carbonate 2509 has a closing price of 62,100 with a decline of 1.33%, and lithium carbonate 2510 has a decline of 1.23% [1] Price Differences - The difference between battery - grade and industrial - grade lithium carbonate is 1600 with no change, the difference between battery - grade lithium carbonate and the main contract is 2090 with a change of 1180, the difference between the near - month and the first - continuous contract is 20 with no change, and the difference between the near - month and the second - continuous contract is - 1120 with a decrease of 80 [2] Inventory - The total inventory (weekly, tons) is 131,779 with a decrease of 141, the smelter inventory (weekly, tons) is 57,015 with an increase of 493, the downstream inventory (weekly, tons) is 40,864 with a decrease of 564, other inventory (weekly, tons) is 33,900 with a decrease of 70, and the registered warehouse receipts (daily, tons) is 35,773 with a decrease of 90 [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate externally is 66,492, and the profit is - 4310. The cash cost of purchasing lithium mica concentrate externally is 67,414, and the profit is - 6754 [3] Industry News - South Africa has launched a key mineral development strategy, and the government has approved the "Key Minerals and Metals Strategy" and is seeking public comments on the "2025 Mineral Resources Development Act (MRDB)" [3]
碳酸锂数据日报-20250508
Guo Mao Qi Huo· 2025-05-08 05:01
Report Industry Investment Rating - Not provided Core Viewpoints - The downstream raw material inventory in the lithium industry is at a high level, with sufficient warehouse receipt inventory. In the short term, downstream demand is mainly for rigid procurement, and the willingness to stock up has not increased. The social inventory continues to accumulate, resulting in a supply surplus situation [3] Summary by Relevant Catalogs Lithium Compounds - SMM battery - grade lithium carbonate has an average price of 66,650 yuan/ton, a decrease of 450 yuan/ton [1] - SMM industrial - grade lithium carbonate has an average price of 65,000 yuan/ton, a decrease of 400 yuan/ton [1] Lithium Futures Contracts - The closing price of lithium carbonate 2505 is 64,120 yuan/ton, with a decline of 2.55% [1] - The closing price of lithium carbonate 2506 is 64,200 yuan/ton, with a decline of 1.92% [1] - The closing price of lithium carbonate 2507 is 64,160 yuan/ton, with a decline of 1.99% [1] - The closing price of lithium carbonate 2508 is 65,320 yuan/ton, with a decline of 1.77% [1] - The closing price of lithium carbonate 2509 is 65,520 yuan/ton, with a decline of 1.86% [1] Lithium Ore - The average price of lithium spodumene concentrate (CIF China) is 750 yuan/ton, a decrease of 17 yuan/ton [1] - The average price of lithium mica (Li20: 1.5% - 2.0%) is 840 yuan/ton, a decrease of 25 yuan/ton [2] - The average price of lithium mica (Li20: 2.0% - 2.5%) is 1470 yuan/ton, a decrease of 30 yuan/ton [2] - The average price of phospho - lithium - aluminum stone (Li20: 6% - 7%) is 6500 yuan/ton [2] - The average price of phospho - lithium - aluminum stone (Li20: 7% - 8%) is 7600 yuan/ton, a decrease of 50 yuan/ton [2] Cathode Materials - The average price of lithium iron phosphate (power type) is 31,875 yuan/ton, a decrease of 105 yuan/ton [2] - The average price of ternary material 811 (polycrystalline/power type) is 146,420 yuan/ton, a decrease of 30 yuan/ton [2] - The average price of ternary material 523 (single - crystal/power type) is 116,885 yuan/ton, a decrease of 130 yuan/ton [2] - The average price of ternary material 613 (single - crystal/power type) is 123,665 yuan/ton, a decrease of 50 yuan/ton [2] Price Differences - The difference between battery - grade and industrial - grade lithium carbonate is 1650 yuan/ton, a decrease of 50 yuan/ton [2] - The difference between battery - grade lithium carbonate and the main contract is 2490 yuan/ton, an increase of 650 yuan/ton [2] - The difference between the near - month and the first - continuous contract is 40 yuan/ton, an increase of 20 yuan/ton [2] - The difference between the near - month and the second - continuous contract is - 1120 yuan/ton [2] Inventory - The total inventory (weekly, tons) is 132,033 tons, an increase of 169 tons [2] - The smelter inventory (weekly, tons) is 51,033 tons, a decrease of 1367 tons [2] - The downstream inventory (weekly, tons) is 45,169 tons, an increase of 2346 tons [2] - The other inventory (weekly, tons) is 35,831 tons, a decrease of 810 tons [2] - The registered warehouse receipt inventory (daily, tons) is 36,244 tons, an increase of 1008 tons [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate externally is 70,422 yuan/ton, and the profit is - 4684 yuan/ton [3] - The cash cost of purchasing lithium mica concentrate externally is 71,805 yuan/ton, and the profit is - 7653 yuan/ton [3] Downstream Sales - According to the comprehensive estimate of Passenger Federation data, the wholesale sales volume of new - energy passenger vehicle manufacturers in China in April was 1.14 million, with a year - on - year increase of 42% and a month - on - month increase of 1%. The cumulative sales volume from January to April this year is estimated [3]