| 行植期货 | | | 碳 酸 ª 译 20250710:国内碳酸锂7月供给预期偏松,国内碳酸锂社会库存量环比增加 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 交易日期(日) | 2025-07-09 | 2025-07-08 | 2025-07-03 | 较昨日变化 | 近两周走势 | | | 近月合约 | 收盘价 | 64700.00 | 65100.00 | 64300.00 | -400.00 | | | | 连一合约 | 收盘价 | 64680.00 | 64240.00 | 64160.00 | 440.00 | | | | 连二合约 | 收盘价 | 64160.00 | 63740.00 | 64080.00 | 420.00 | | | | 连三合约 | 收盘价 | 64160.00 | 63740.00 | 63800.00 | 420.00 | | | | | 收盘价 | 64400.00 | 63880.00 | 64080.00 | 520.00 | | | 砖酸但期货 | | 成交量(手) | ...

1. Report Industry Investment Rating - Not provided in the given documents 2. Core View of the Report - The supply of domestic lithium carbonate in April is expected to be loose, and the price of lithium carbonate is likely to fall and difficult to rise. It is recommended that investors mainly set up short positions when the price rebounds, paying attention to the support level around 3100 - 6000 and the pressure level around 2000 - 7000 [5] 3. Summary by Related Catalogs 3.1 Lithium Futures and Spot Prices - **Futures**: On April 25, 2025, the closing prices of lithium carbonate futures' near - month, continuous - one, continuous - two, and continuous - three contracts were 68380 yuan/ton, 68180 yuan/ton, 69240 yuan/ton, and 69240 yuan/ton respectively. The trading volume of the active contract was 108177 lots, and the open interest was 217370 lots. The inventory was 31555 tons [1] - **Spot**: The average price of 99.5% battery - grade domestic lithium carbonate on April 25, 2025, was 69800 yuan/ton, down 100 yuan/ton from the previous day [1] 3.2 Industry News - **Project Investment and Production**: Linyi Buzha Weimang Environmental Protection New Materials Co., Ltd. plans to invest 100 million yuan to build a project for recycling and reusing 10,000 tons of waste lithium batteries annually. Silver Age Ruitai New Material Technology Co., Ltd.'s 20,000 - ton lithium iron phosphate project in Baiyin City, Gansu Province, has been put into production. Fangyuan Co., Ltd. terminates a project worth up to 2 billion yuan [1][2] - **Supply - side Changes**: Tianqi Lithium's 30,000 - ton wet - process project may be put into production in October 2025, increasing the total capacity to 210,000 tons/year. Albemarle's phosphate salt production line will be overhauled before June 2025. Zijin Lithium's 25,000 - ton battery - grade lithium carbonate production capacity will be completed and put into production in December 2025 [3] - **Demand - side Changes**: The demand for energy - storage batteries is gradually recovering, and the production, shipment, and inventory of energy - storage batteries may increase. The production and sales of new energy vehicles may also increase [5] 3.3 Market Supply and Demand - **Supply**: The production and import of domestic lithium in April may increase, and the supply of lithium carbonate is expected to be loose. The production of lithium hydroxide may also increase [3][5] - **Demand**: The demand for some cathode materials is recovering, but the production profit of some products is negative, which may affect production [5]