内容概况：中国是全球最大的氧化钴生产国和消费国。2025年上半年，中国氧化钴产量为0.95万吨，同 比增长40.69%。需求方面，2025年全球新能源汽车销量预计突破1800万辆，中国作为最大单一市场， 动力电池领域对高纯度氧化钴的需求激增，尤其是钴酸锂正极材料对类球形颗粒氧化钴的需求。储能电 池市场因"双碳"目标加速发展，进一步拉动氧化钴需求。消费电子领域，折叠屏手机、AR/VR设备等新 兴产品的单机钴含量较传统机型提升40%，形成增量需求。政策层面，国务院《推动大规模设备更新和 消费品以旧换新行动方案》及地方新能源材料支持政策，为氧化钴在动力电池领域的应用提供长期利 好。同时，动力电池退役潮（2025年起）倒逼回收体系完善，格林美等企业已实现钴回收率超99%，构 建"资源-材料-回收"闭环商业模式，为氧化钴行业的可持续发展提供了重要支撑。 相关上市企业：华友钴业（603799）、寒锐钴业（300618）、中伟股份（300919）、格林美 （002340）、道氏技术（300409） 相关企业：浙江华友钴业股份有限公司、南京寒锐钴业股份有限公司、洛阳栾川钼业集团股份有限公 司、云南云天化股份有限公司、宁德时代 ...

Investment Rating - Industry rating: Recommended [3] Core Insights - The lithium carbonate price increased by 0.91% to 72,000 CNY/ton as of August 8, 2025, indicating a supply-demand imbalance in the industry that may be difficult to resolve [6][42] - Nickel prices rose, with LME nickel closing at 212,232 USD/ton, up 1.51% from August 1, 2025, while domestic nickel prices also increased by 1.05% to 121,000 CNY/ton [21][24] - Cobalt prices showed mixed trends, with electrolytic cobalt down 1.48% to 266,000 CNY/ton, while cobalt oxide rose by 2.54% to 203.50 CNY/kg [25][30] - Antimony prices decreased, with antimony ingot averaging 185,000 CNY/ton, down 1.33% from July 31, 2025, amid tight supply conditions [31][35] - The nickel industry faces potential supply disruptions due to the suspension of production lines by Chinese mining giant Tsingshan in Indonesia, which may impact local nickel mining and support nickel prices [12][24] Summary by Sections Nickel and Cobalt Industry Updates - Nickel prices increased, with LME nickel at 212,232 USD/ton and domestic nickel at 121,000 CNY/ton, while supply remains stable despite weather conditions [21][24] - Cobalt prices fluctuated, with electrolytic cobalt down and cobalt oxide up, influenced by raw material shortages from the Democratic Republic of Congo [25][30] Antimony Industry Update - Antimony prices fell, with domestic antimony ingot at 185,000 CNY/ton, as supply remains tight and production is limited due to many manufacturers being offline [31][35] Lithium Industry Update - Lithium carbonate prices rose to 72,000 CNY/ton, with high inventory levels and slow de-stocking, indicating ongoing supply challenges [6][42] Rare Earth Industry Update - The rare earth market remains stable, with domestic production indicators not showing significant growth, and the U.S. government is working to rebuild its rare earth supply chain [15][42] Tin Industry Update - Tin prices increased, with LME tin at 33,900 USD/ton, as supply from Myanmar remains constrained due to production issues [9][15] Tungsten Industry Update - Tungsten prices rose slightly, with white tungsten at 193,500 CNY/ton, as supply remains tight due to reduced mining quotas [10][11] Investment Recommendations - Recommended companies include Tianhua New Energy, Yahua Group, and Ganfeng Lithium, which are expected to benefit from the current market dynamics in lithium supply [42]