Group 1: Report Summary - The report is a daily report on lithium carbonate futures dated August 22, 2025, written by researchers Zhang Ping, Yu Feifei, and Peng Jinglin from the Nonferrous Metals Research Team of Jianxin Futures [2][3][4] Group 2: Market Review and Operation Suggestions - Lithium carbonate futures stopped falling, and the market selling sentiment eased. The logic of production cuts at the lithium resource end still exists, and the futures once turned positive. The spot price of electric carbon dropped by 500 to 85,200, with the spot at a premium to the futures, showing resistance to decline [9] - Australian ore remained flat at 960, lithium mica ore dropped by 15 to 2,110, the price of 5-series power ternary materials remained flat, and lithium iron phosphate dropped by 125. The short - term price decline led to price cuts in both upstream and downstream of the industrial chain [9] - The production profit of salt plants purchasing lithium spodumene narrowed to 3,613, and the production loss of salt plants purchasing lithium mica widened to 2,995. This week's weekly lithium carbonate production decreased by 842 tons to 19,138 tons compared with last week, and social inventory decreased by 713 tons to 141,543 tons. Production is still at a relatively high level, and it is judged that the inflection point of social inventory has appeared [9] - With the spot at a premium and the market's enthusiasm for speculating on ore - end production cuts remaining high before the end of September, it is expected that the downward space for lithium carbonate prices is limited [9] Group 3: Industry News - The Ningxia - Hunan ±800 kV UHV DC transmission project was put into operation on August 20. It is China's first approved UHV transmission channel mainly for transmitting new energy from large - scale wind and photovoltaic bases in the "Sahara - Gobi - Desert" area. The project has a supporting power generation capacity of 17.64 million kilowatts, including 13 million kilowatts of new energy (4 million kilowatts of wind power and 9 million kilowatts of photovoltaic power) [12] - Premier African Minerals announced that its Zulu lithium project has made a major breakthrough, transitioning from the commissioning phase to the refining optimization phase. The project has successfully produced salable spodumene concentrate with a lithium oxide grade of over 5% (up to 6.2%) and achieved full - process automated continuous production [12][13]

Group 1 - The domestic futures market for non-ferrous metals showed a downward trend, with lithium carbonate futures main contract closing at 87,540.0 yuan/ton, down 1.79% [1] - In the spot market, prices for various lithium-related materials increased, including a rise of 1,900 yuan to 84,600 yuan for electric carbon and 500 yuan for ternary materials [1] - Weekly lithium production increased by 424 tons to 19,980 tons, with lithium spodumene production rising by 477 tons to 11,659 tons, while lithium mica production decreased by 510 tons to 3,900 tons [1] Group 2 - Market sentiment improved due to the upcoming expiration of a safety production license for a large mica mine in Jiangxi, leading to cautious upward movement in lithium prices [2] - The domestic demand for lithium is showing signs of recovery as downstream purchasing attitudes shift in response to the strong trend of lithium carbonate [1][2] - Short-term lithium prices may experience upward movement driven by market sentiment, but the extent of the increase is expected to be limited due to regulatory factors and local oversight [2]