库存与仓单：碳酸锂库存周环比下降713吨至141543吨，去库幅度0.5%，显 示供需紧平衡格局延续。仓单暂无显著异动，低库存环境对价格底部支撑 仍在。 供应缩减迎上需求旺季，碳酸锂短期延续高位波动 一、日度市场总结 碳酸锂期货市场数据变动分析 主力合约与基差：8月26日碳酸锂主力合约收于79020元/吨，较前一交易日 小幅回落0.45%。基差继续走弱，从25日的3320元/吨降至2680元/吨，期货 对现货贴水扩大，市场对远期供给压力的预期有所增强。 持仓与成交：主力合约持仓量单日减少19171手，成交量亦收缩10.7%至 559599手，资金交投活跃度降温，部分多头避险离场。 产业链供需及库存变化分析 供给端：短期扰动与长期调整并存。宁德时代江西枧下窝锂云母矿区自8月 10日停产后，供给端收缩预期对现货形成支撑；但盐湖提锂扩产项目持续 推进，叠加碳酸锂产能利用率周环比上升2.49个百分点至66.41%，总体供 应边际回升。进口方面，7月碳酸锂进口量环比减少22%至13845吨，但智利 7月对华出口量环比反弹33%，海外供给季节性恢复或缓解国内资源偏紧格 局。 需求端：旺季需求韧性尚存但上行乏力。8月1-1 ...

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core View of the Report - Over the next 1 - 2 weeks, the lithium carbonate futures market may shift to a wide - range, volatile, and bullish pattern. Although supply disturbances have boosted market bullish sentiment, the impact of current mine shutdowns on actual production is yet to be seen, and lithium salt plants maintain high operating rates, so the spot market still faces inventory pressure. On the demand side, the growth rate of new energy vehicle sales is slowing down, and the "anti - involution" initiative in the battery industry chain restrains the mid - stream's impulse to expand production, so there is a risk of revising the peak - season expectations. Attention should be paid to the marginal changes in policy implementation and the progress of mine rectification in Jiangxi [3]. Group 3: Summary According to the Table of Contents 1. Daily Market Summary - **Analysis of Lithium Carbonate Futures Market Data** - On August 18, the price of the lithium carbonate main contract rose to 89,240 yuan/ton; the basis weakened from - 3,600 yuan/ton to - 5,940 yuan/ton, indicating that the market's pricing of the supply - tightening expectation increased [1]. - The open interest of the main contract increased by 19,967 lots to 421,106 lots, and the trading volume increased to 1.036328 million lots. The simultaneous expansion of volume and open interest shows that the divergence among funds on the direction of lithium prices has intensified, and the market's gambling sentiment has heated up [1]. - **Analysis of Industrial Chain Supply - Demand and Inventory Changes** - **Supply side**: The shutdown of Ningde Times' Jianxiawo Mine in Jiangxi has triggered market concerns about the shortage of lithium mica supply. Coupled with the regulatory pressure on local mines to complete the re - application of ore types by September 30, the uncertainty of lithium ore supply has increased. However, the prices of spodumene concentrate and lithium mica concentrate are stable at 940 yuan/ton and 990 yuan/ton respectively, and the weekly capacity utilization rate of lithium carbonate remains flat at 63.92%. The short - term actual supply has not significantly shrunk [2]. - **Demand side**: The retail performance of new energy vehicles is moderate, with the year - on - year growth rate dropping to 6% from August 1 - 10, indicating marginal weakening pressure on demand. However, the price of lithium hexafluorophosphate increased by 0.54% week - on - week to 55,500 yuan/ton, and the price of power ternary materials slightly increased by 0.42% to 119,695 yuan/ton, indicating that there is still some support for downstream inventory - building demand [2]. - **Inventory and warehouse receipts**: Lithium carbonate inventory decreased slightly by 162 physical tons to 142,256 tons (a decrease of 0.11%), and the absolute value is still at a high level this year. The number of warehouse receipts has not changed abnormally, and the overall inventory pressure has not been substantially relieved [2]. - **Market Price** - Future 1 - 2 weeks, the lithium carbonate futures market may enter a wide - range, volatile, and bullish pattern. Although supply disturbances have boosted market bullish sentiment, the impact of current mine shutdowns on actual production is yet to be seen, and the spot market still faces inventory pressure. On the demand side, the growth rate of new energy vehicle sales is slowing down, and the "anti - involution" initiative in the battery industry chain restrains the mid - stream's impulse to expand production, so there is a risk of revising the peak - season expectations. Attention should be paid to the marginal changes in policy implementation and the progress of mine rectification in Jiangxi [3]. 2. Industrial Chain Price Monitoring - From August 15 to August 18, the price of the lithium carbonate main contract rose from 86,900 yuan/ton to 89,240 yuan/ton, an increase of 2,340 yuan or 2.69%. The basis weakened from - 3,600 yuan/ton to - 5,940 yuan/ton, a decrease of 2,340 yuan or 65%. The open interest of the main contract increased from 401,139 lots to 421,106 lots, an increase of 19,967 lots or 4.98%. The trading volume of the main contract increased from 868,811 lots to 1,036,328 lots, an increase of 167,517 lots or 19.28% [5]. - The market price of battery - grade lithium carbonate remained unchanged at 83,300 yuan/ton. The market prices of spodumene concentrate and lithium mica concentrate remained unchanged at 940 yuan/ton and 990 yuan/ton respectively. The price of lithium hexafluorophosphate increased from 55,200 yuan/ton to 55,500 yuan/ton, an increase of 300 yuan or 0.54%. The price of power ternary materials increased from 119,195 yuan/ton to 119,695 yuan/ton, an increase of 500 yuan or 0.42%. The price of power lithium iron phosphate increased from 35,655 yuan/ton to 36,170 yuan/ton, an increase of 515 yuan or 1.44% [5]. - From August 8 to August 15, the capacity utilization rate of lithium carbonate remained unchanged at 63.92%. Lithium carbonate inventory decreased from 142,418 physical tons to 142,256 physical tons, a decrease of 162 physical tons or 0.11%. The price of 523 cylindrical ternary cells increased from 4.31 yuan/piece to 4.32 yuan/piece, an increase of 0.01 yuan or 0.23%. The price of 523 square ternary cells increased from 0.38 yuan/Wh to 0.39 yuan/Wh, an increase of 0.00 yuan or 0.26%. The price of 523 soft - pack ternary cells remained unchanged at 0.40 yuan/Wh. The price of square lithium iron phosphate cells remained unchanged at 0.32 yuan/Wh. The price of cobalt - acid lithium cells increased from 5.53 yuan/Ah to 5.55 yuan/Ah, an increase of 0.02 yuan or 0.36% [5]. 3. Industry Dynamics and Interpretation - **Spot Market Quotation (August 18)**: The SMM battery - grade lithium carbonate index price was 84,794 yuan/ton, a increase of 2,069 yuan/ton compared with the previous working day. The price range of battery - grade lithium carbonate was 82,500 - 86,700 yuan/ton, with an average price of 84,600 yuan/ton, a increase of 1,900 yuan/ton compared with the previous working day. The price range of industrial - grade lithium carbonate was 81,600 - 83,000 yuan/ton, with an average price of 82,300 yuan/ton, a increase of 1,900 yuan/ton compared with the previous working day. Affected by the news that a lithium salt production enterprise in Qinghai may face shutdown due to the mining license issue, the futures price continued to rise, breaking through the 90,000 - yuan/ton mark at the highest. The downstream purchasing enthusiasm continued to increase, and the market activity increased. Due to the rigid - demand purchasing needs of some downstream enterprises and the general reluctance - to - sell sentiment of upstream and traders, the center of the spot transaction price of lithium carbonate continued to move up significantly. Under the dual effects of the supply - tightening expectation and the peak - demand season, the spot price of lithium carbonate is expected to have room for an upward movement, and the price center may continue to move up in the short term. The trading sentiment factor of lithium carbonate on this day was 2.31, the upstream shipping sentiment factor was 2.67, and the downstream purchasing sentiment factor was 2.05. The downstream purchasing sentiment factor increased compared with the previous working day, and the upstream shipping sentiment factor remained relatively stable [6]. - **Downstream Consumption Situation (August 13)**: According to the data of the Passenger Car Association, from August 1 - 10, the retail sales of new energy vehicles in the national passenger car market were 262,000 units, a year - on - year increase of 6% and a month - on - month increase of 6%. The retail penetration rate of the national new energy market was 57.9%. The cumulative retail sales this year were 6.717 million units, a year - on - year increase of 28%. From August 1 - 10, the wholesale sales of new energy vehicles by national passenger car manufacturers were 229,000 units, a year - on - year increase of 15% and a month - on - month decrease of 2%. The wholesale penetration rate of new energy manufacturers was 56.8%. The cumulative wholesale sales this year were 7.862 million units, a year - on - year increase of 35% [6]. - **Industry News** - August 15: Ningde Times' Jianxiawo Mine, one of the largest lithium mica mines in Yichun, announced a shutdown due to the expiration of the mining license, which will directly affect the change in lithium carbonate prices. Local mines in Yichun mainly mine ceramic soil and tantalum - niobium ore, but the new mining law revision tends to determine the ore type based on the actual economic behavior. There are a total of eight mines in the same situation, and local authorities require them to re - apply before September 30 this year [8]. - August 13: An "anti - involution" storm is sweeping through the entire lithium - battery industry chain. On August 12, the Lithium Industry Branch of the China Non - Ferrous Metals Industry Association issued an initiative for the healthy development of the lithium industry, calling on the entire industry chain to jointly resist vicious competition and promote the high - quality development of the lithium industry. The initiative includes strengthening upstream - downstream collaboration, maintaining industrial safety, adhering to the principle of fair market competition, and actively assessing market trends to reasonably plan new production capacities [8]. - July 23: On July 22, Yang Hongxin, the chairman of Hive Energy, revealed that Hive Energy is fully promoting the R & D and mass - production process of solid - state batteries. It plans to trial - produce the first - generation 140Ah semi - solid batteries on its 2.3GWh semi - solid mass - production line in the fourth quarter of 2025. These batteries will be used exclusively for the next - generation models of BMW MINI and are expected to be supplied on a large scale starting in 2027 [9]. 4. Industrial Chain Data Charts - The report provides data charts including the main contract and basis of lithium carbonate futures, lithium concentrate prices, hexafluorophosphate and electrolyte prices, ternary precursor prices, ternary material prices, lithium iron phosphate prices, lithium carbonate operating rate, lithium carbonate inventory, and cell selling prices, with data sources including iFinD, SMM, Shanghai Steel Union, and the R & D department of Tonghui Futures [10][13][15][17][18][21][22][24].

Group 1: Report's Core View - The short - term core contradiction in the market is the continuous excess pressure under the situation of increasing supply and stable demand. The lithium carbonate price lacks the momentum for continuous rebound, and attention should be paid to the downstream production resumption progress in June and the cost support strength of lithium ore prices [7] Group 2: Daily Market Summary - On June 6, the price of the lithium carbonate main contract closed at 60,440 yuan/ton, up 0.57% from the previous trading day. The futures rebounded and the spot price remained stable, causing the basis to converge [2] - The position of the main contract significantly shrank to 218,416 lots on June 6, a 5.69% decrease from the previous day. The trading volume slightly expanded to 256,782 lots, a 4.98% increase, but there was a lack of continuous position - increasing support [3] - The supply of lithium salts is expected to remain loose. The prices of spodumene and lepidolite concentrates remained flat, and the raw material cost support weakened. The operating rate of lithium salt plants is expected to increase in June, and the long - term supply pressure remains [4] - Downstream demand is structurally differentiated but overall weak. Although new energy vehicle sales are still resilient, power battery production has declined seasonally, and cathode material manufacturers are destocking, suppressing procurement demand [5] - Lithium carbonate inventory increased by 0.65% to 132,432 tons, continuing the inventory accumulation trend. The actual de - stocking power is insufficient due to the mismatch between supply and demand [6] Group 3: Industrial Chain Price Monitoring - On June 6, the price of the lithium carbonate main contract was 60,440 yuan/ton, up 0.57% from the previous day; the basis was 960 yuan/ton, down 20% [9] - The position of the main contract was 218,416 lots, down 5.69%; the trading volume was 256,782 lots, up 4.98% [9] - The market price of battery - grade lithium carbonate was 61,400 yuan/ton, up 0.16% from the previous day. The prices of spodumene concentrate, lepidolite concentrate, and some cathode materials remained flat [9] - The capacity utilization rate of lithium carbonate was 62.5%, up 0.4 percentage points from the previous period. The inventory of lithium carbonate was 132,432 tons, up 0.65% [9] Group 4: Industrial Dynamics and Interpretation - The price center of lithium carbonate spot transactions remained stable. In June, the supply of lithium carbonate is expected to increase while demand remains stable, and the excess pattern will continue [10] - In May, the retail sales of new energy vehicles reached 105.6 million, a 30% year - on - year increase, and the penetration rate reached 53.5%. The wholesale volume was 124 million, a 37% year - on - year increase [11]

Report Summary 1. Report Industry Investment Rating No information provided on the industry investment rating. 2. Core View of the Report The policy - driven demand expectations for lithium carbonate are in a multi - empty game with high inventory levels and cost collapses. Over the next 1 - 2 weeks, the futures price of lithium carbonate will be constrained by the oversupply situation and the decline in Australian ore costs on the upside, while being supported by short - term export rush expectations and market sentiment on the downside. If the demand boost fails to meet expectations, the price may face downward pressure again, and overall, it will continue the low - level oscillation pattern [3]. 3. Summary by Relevant Sections 3.1 Daily Market Summary - On May 14, the main futures contract of lithium carbonate closed at 65,200 yuan/ton, up 3.13% from the previous day, with an intraday fluctuation range of 63,020 - 65,200 yuan/ton, showing an oscillatory upward trend. The basis weakened significantly, dropping from 2,980 yuan/ton to 1,000 yuan/ton, a decrease of 66.44%. The futures price increase was significantly higher than that of the spot price [2]. - The open interest of the main contract decreased by 5.87% to 277,000 lots, indicating some funds left the market, while the trading volume expanded by 73.95% to 378,000 lots, suggesting intensified market competition [2]. - In the spot market, the average price of battery - grade lithium carbonate remained flat at 66,200 yuan/ton. The prices of spodumene and lepidolite concentrates also remained stable, but the capacity utilization rate of lithium carbonate decreased by 1.3 percentage points to 61% month - on - month, as upstream production was still constrained by profit margins [2]. 3.2 Industry Chain Analysis and Future Trend Judgment - **Supply Side**: The prices of spodumene (740 yuan/ton) and lepidolite (800 yuan/ton) have remained stable for many days, but the CIF price of Australian ore has dropped to $700/ton, weakening cost support. Upstream lithium salt plants are maintaining high prices due to losses, and the weekly output has increased by 28% month - on - month, so the supply pressure persists [3]. - **Demand Side**: The prices of power ternary materials (116,375 yuan/ton) and lithium iron phosphate (31,445 yuan/ton) increased slightly. The purchasing willingness of downstream cathode material enterprises is low, and demand relies on long - term contracts. The exemption of tariffs on Chinese energy - storage cells in the US may stimulate the expectation of a rush to export, potentially driving up the production of energy - storage cells in May - June and improving short - term marginal demand [3]. - **Inventory Side**: The weekly inventory of lithium carbonate decreased by 464 tons, but the inventory of smelters increased to 55,000 tons. Downstream replenishment remains cautious, and the overall inventory pressure has not been substantially alleviated [3]. 3.3 Industry Chain Price Monitoring - The price of the main lithium carbonate contract increased by 3.13% from May 13 to May 14, while the basis decreased by 66.44%. The open interest decreased by 5.87%, and the trading volume increased by 73.95% [5]. - The average price of battery - grade lithium carbonate remained unchanged, and the prices of spodumene and lepidolite concentrates were stable. The prices of power ternary materials and lithium iron phosphate increased slightly, by 0.02% and 0.16% respectively [5]. - The capacity utilization rate of lithium carbonate decreased by 1.3 percentage points from May 9 to May 2, a decrease of 2.09% [5]. 3.4 Industry Dynamics and Interpretation - **Spot Market Quotations**: On May 14, the SMM battery - grade lithium carbonate index price was 64,959 yuan/ton, up 197 yuan/ton from the previous working day. The average price of battery - grade lithium carbonate was 64,700 yuan/ton, up 100 yuan/ton, and that of industrial - grade lithium carbonate was 63,050 yuan/ton, also up 100 yuan/ton. The downstream purchasing willingness is low, and the overall demand is mainly met by customer - supplied and long - term contracts. Upstream lithium salt plants have a strong willingness to maintain high prices due to cost losses. Only some transactions occur between traders and downstream enterprises. Considering the high inventory and weakening cost support, the price of lithium carbonate will continue the low - level oscillatory pattern [6]. - **Downstream Consumption**: According to the Passenger Car Association, from April 1 - 30, the retail sales of new energy passenger vehicles in the country were 922,000 units, a year - on - year increase of 37% and a month - on - month decrease of 7%. The retail penetration rate of the new energy market was 52.3%. The cumulative retail sales this year were 3.342 million units, a year - on - year increase of 37%. The wholesale volume of new energy vehicles by manufacturers was 1.142 million units, a year - on - year increase of 41% and a month - on - month increase of 1%. The wholesale penetration rate of new energy manufacturers was 53.9%, and the cumulative wholesale volume this year was 3.99 million units, a year - on - year increase of 42% [7].

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report The supply - demand contradiction of lithium carbonate remains unresolved, and the pattern of weak oscillation may continue. The expansion inertia after the Spring Festival and the current stall in demand dominate the market. The spot market has default news, and there are also some differences within the short - selling funds in the futures market. It may enter a bottom - seeking stage in the short term [2][4]. 3. Summary by Relevant Catalogs 3.1 Daily Market Summary - The price of the lithium carbonate main contract on May 8 was 64,280 yuan/ton, a slight increase of 0.19% from the previous day, but it showed an oscillating downward trend in the past five days, dropping from 66,260 yuan/ton to 64,280 yuan/ton [2]. - The basis weakened significantly, reaching 2,120 yuan/ton on May 8, a decrease of 620 yuan/ton from the previous day [2]. - The position of the main contract decreased for two consecutive days, dropping to 267,396 lots (-3.43%) on May 8, while the trading volume increased significantly by 51.75% to 309,284 lots [2]. - The market price of battery - grade lithium carbonate dropped to 66,400 yuan/ton (-0.75%), and the industrial - grade lithium carbonate also declined. The price center of the industrial chain spot continued to move down [2]. - The prices of downstream products such as lithium hexafluorophosphate, power ternary materials, and lithium iron phosphate decreased by 1.09%, 0.3%, and 1.04% respectively, and the prices of electrolyte and anode materials also weakened [2]. 3.2 Industry Chain Supply - Demand and Inventory Analysis - In April, the total output of lithium carbonate decreased by 7% month - on - month but remained at a high level. The output of spodumene decreased by 16%, that of lithium mica increased by 4% month - on - month, and the output of salt lakes increased by 10% with the warming of the temperature [3]. - The price of lithium salts forced the mining end to make concessions, and severely hit the smelting demand such as toll - processing. The mining end is currently in a stage of price decline and inventory accumulation [3]. - From April 1 - 30, the retail sales of new energy passenger vehicles in the country were 922,000 units, a year - on - year increase of 37% and a month - on - month decrease of 7%; the wholesale volume of manufacturers was 1.142 million units, a year - on - year increase of 41% and a month - on - month increase of 1% [3]. 3.3 Industry Chain Price Monitoring - On May 8, 2025, compared with May 7, 2025, the price of the lithium carbonate main contract increased by 0.19%, the basis decreased by 22.63%, the main contract position decreased by 3.43%, and the main contract trading volume increased by 51.75%. The market price of battery - grade lithium carbonate decreased by 0.75%, while the prices of spodumene concentrate and lithium mica concentrate remained unchanged. The prices of lithium hexafluorophosphate, power ternary materials, and lithium iron phosphate decreased by 1.09%, 0.3%, and 1.04% respectively [6]. - From May 2 to April 25, 2025, the capacity utilization rate of lithium carbonate decreased by 0.48% [6]. 3.4 Industry Dynamics and Interpretation - On May 8, the SMM battery - grade lithium carbonate index price was 65,346 yuan/ton, a decrease of 1415 yuan/ton from the previous working day. The average price of battery - grade lithium carbonate was 65,250 yuan/ton, and that of industrial - grade lithium carbonate was 63,600 yuan/ton, both decreasing by 1400 yuan/ton. Due to high inventory and weak downstream procurement, the spot price of lithium carbonate continued to fall [7]. - From April 1 - 27, the retail sales of new energy passenger vehicles in the country were 728,000 units, a year - on - year increase of 24% and a month - on - month decrease of 10%, with a retail penetration rate of 52.3%. The wholesale volume of manufacturers was 846,000 units, a year - on - year increase of 25% and a month - on - month decrease of 6%, with a wholesale penetration rate of 53.9% [8]. 3.5 Industry Chain Data Charts The report provides multiple data charts, including those on lithium carbonate futures main contract and basis, battery - grade and industrial - grade lithium carbonate prices, lithium concentrate prices, lithium hexafluorophosphate and electrolyte prices, ternary precursor prices, ternary material prices, lithium iron phosphate prices, lithium carbonate inventory, lithium carbonate operating rate, and cell selling prices [9][14][17][19][21][22][24][26][28].

1. Report Industry Investment Rating - No relevant content found 2. Core View of the Report - The consumption of lithium carbonate has not received clear policy support, and the futures and spot markets still lack positive factors. The lithium carbonate market remains in a state of continuous inventory accumulation [1]. 3. Summary by Relevant Catalogs 3.1 Daily Market Summary - On April 25, the lithium carbonate futures fluctuated narrowly below 70,000 yuan. The main contract LC2507 closed at 68,180 yuan/ton, down 0.18% from the previous trading day's close. The spot price of lithium carbonate was loose and fluctuated at a low level, with the average transaction price of battery-grade lithium carbonate down 100 yuan/ton from the previous trading day [1]. - According to SMM data, the weekly output of lithium carbonate in the week of April 25 was 16,900 tons, a 2.81% decrease from the previous week, but still at a relatively high historical level. As of the week of April 25, the weekly inventory of lithium carbonate was 131,864 tons, a 0.20% increase from the previous week. Meanwhile, the weekly output of lithium iron phosphate batteries was 17.37 GWh, a 10.71% increase from the previous week [1]. - According to the Passenger Car Association, from April 1 - 20, the retail sales of the new energy vehicle market increased by 20% year-on-year but decreased by 11% month-on-month. The wholesale of new energy vehicles by national passenger car manufacturers increased by 23% year-on-year but decreased by 7% month-on-month [1]. 3.2 Lithium Carbonate Price Monitoring - **Futures Data**: The main contract price of lithium carbonate decreased from 68,300 yuan/ton on April 24 to 68,180 yuan/ton on April 25, a decrease of 120 yuan/ton or 0.18%. The open interest of the main contract increased by 4,914 lots to 217,370 lots, a 2.31% increase. The trading volume increased by 3,793 lots to 108,177 lots, a 3.63% increase. The number of lithium carbonate futures warehouse receipts increased by 240 to 31,795, a 0.76% increase [3]. - **Spot Data**: The market price of battery-grade lithium carbonate remained unchanged at 69,600 yuan/ton on April 25 compared to April 24. The market price of lithium spodumene concentrate and lithium mica concentrate remained unchanged at 790 yuan/ton-degree and 930 yuan/ton-degree respectively. The price of lithium hexafluorophosphate decreased by 200 yuan/ton to 57,800 yuan/ton, a 0.34% decrease. The prices of power-type ternary materials and power-type lithium iron phosphate decreased slightly [5]. - **Weekly Data**: The capacity utilization rate of lithium carbonate decreased by 0.1 percentage points to 62.6%. The weekly output of lithium carbonate decreased by 488 tons to 16,900 tons, a 2.81% decrease. The output of lithium iron phosphate batteries increased by 1.68 GWh to 17.37 GWh, a 10.71% increase. The inventory of lithium carbonate increased by 259 tons to 131,864 tons, a 0.20% increase [5]. 3.3 Industry Dynamics and Interpretation - **Spot Market Quotations**: On April 25, the spot price of battery-grade lithium carbonate was reported at 68,200 - 71,400 yuan/ton, with an average price of 69,800 yuan/ton, down 100 yuan/ton from the previous trading day [6]. - **Downstream Consumption**: From April 1 - 20, the retail sales of the national passenger car new energy market were 478,000 units, a 20% year-on-year increase but an 11% month-on-month decrease. The wholesale of new energy vehicles by national passenger car manufacturers was 530,000 units, a 23% year-on-year increase but a 7% month-on-month decrease [7]. - **Industry News**: Kodal Minerals' Bougouni lithium project in southern Mali is nearing completion, and it has produced over 11,000 tons of lithium spodumene concentrate. Trump announced a 25% tariff on imported cars, which took effect on April 2. Tianhua New Energy's subsidiary obtained a mining license for a ceramic clay (lithium-containing) mine. Sibanye Stillwater terminated its lithium project in Nevada. China discovered a 2,800-kilometer lithium deposit, increasing its global lithium reserves share from 6% to 16.5%. Keliyuan's Yichun lithium mine expanded its production capacity [8][9][10]. 3.4 Industrial Chain Data Charts - The report includes multiple charts showing the price trends of lithium carbonate futures, battery-grade and industrial-grade lithium carbonate, lithium concentrate, lithium hexafluorophosphate, ternary precursors, ternary materials, lithium iron phosphate, as well as the inventory, output, and capacity utilization rate of lithium carbonate, and the output of batteries [11][17][19].