1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The report provides a comprehensive analysis of the lithium carbonate market, including futures data, spot data, basis and warehouse receipt data, and cost - profit analysis, aiming to help investors understand the market situation and potential investment opportunities [2][19][26][37] 3. Summary by Directory Futures Data - The price range of the lithium carbonate futures main contract is expected to be in a wide - range shock between 120,000 and 200,000 yuan, with a current 20 - day rolling volatility of 107.6% and a historical percentile of 95.7% over 3 years [2] - The main contract's closing price is 166,480 yuan/ton, with a daily increase of 2360 yuan (1.44%) and a weekly increase of 29,140 yuan (21.22%). The trading volume, open interest, and other indicators of the main contract and weighted index contract also showed significant changes [4] - The CME lithium hydroxide futures prices for different months in 2026 showed varying degrees of increase, and the LME lithium hydroxide futures also had corresponding trading data [14][17] Spot Data - In the lithium battery industry chain, various lithium - related products such as lithium ore, lithium salt, and battery materials showed price changes. For example, the latest average price of lithium mica (2 - 2.5%) was 5400 yuan/ton, with a daily increase of 575 yuan (11.92%) [19] - The price differences between different lithium products also changed. For example, the difference between battery - grade and industrial - grade lithium carbonate remained unchanged at 3500 yuan/ton, while the difference between battery - grade lithium carbonate and battery - grade lithium hydroxide changed [22] Basis and Warehouse Receipt Data - The basis of the lithium carbonate main continuous contract and near - month contract showed seasonal characteristics. The basis of different brands of lithium carbonate also had corresponding quotes [28][29][30] - The total number of lithium carbonate warehouse receipts decreased by 330 to 38,525, and the warehouse receipts of different warehouses also changed [33] Cost - Profit - The production profits of lithium carbonate from purchased lithium ore and lithium hydroxide production profits by different methods showed different trends over time. The theoretical delivery profit of lithium carbonate and the export profit of lithium hydroxide and import profit of lithium carbonate also had corresponding data [38][39]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report No clear core viewpoints are explicitly stated in the provided content. The report seems to be a comprehensive data - driven analysis of the lithium carbonate market, presenting various data on futures, spot, basis, and cost - profit aspects. 3. Summary by Relevant Catalogs 3.1 Futures Data - The strong support level of the lithium carbonate main contract is 120,000 yuan/ton, with a 20 - day rolling volatility of 68.4% and a 3 - year historical percentile of 94.9% [3] - The closing price of the main contract is 161,940 yuan/ton, down 5,040 yuan (3.02%) daily and up 19,640 yuan (13.80%) weekly. The trading volume is 589,019 lots, down 19,158 lots (3.15%) daily and up 168,612 lots (40.11%) weekly. The open interest is 452,583 lots, down 7,698 lots (1.67%) daily and down 53,937 lots (10.65%) weekly [4] - The closing price of the weighted - index contract is 162,418 yuan/ton, down 5,025 yuan (3.00%) daily and up 19,892 yuan (13.96%) weekly. The trading volume is 1,086,844 lots, down 95,128 lots (8.05%) daily and up 349,719 lots (47.44%) weekly. The open interest is 886,318 lots, down 15,033 lots (1.67%) daily and down 77,914 lots (8.08%) weekly [4] - The price differences between different contracts (e.g., LC2605 - LC2607, LC2605 - LC2609, LC2607 - LC2609) have different daily and weekly changes [4] - The Guangzhou Futures Exchange's lithium carbonate warehouse receipts are 26,898 lots, up 928 lots (3.57%) daily and up 3,757 lots (16.24%) weekly [4] 3.2 Spot Data - In the lithium ore segment, prices of various lithium ores such as lithium mica, lithium spodumene from different sources have different daily and weekly changes. For example, the latest average price of 2 - 2.5% lithium mica is 4,990 yuan/ton, up 40 yuan (0.81%) daily [22] - In the lithium salt segment, prices of industrial - grade and battery - grade lithium carbonate and lithium hydroxide all increased. For example, the price of industrial - grade lithium carbonate is 159,500 yuan/ton, up 3,500 yuan (2.24%) daily [22] - For cell materials, prices of some materials increased while others remained unchanged. For example, the price of energy - storage lithium iron phosphate is 57,190 yuan/ton, up 950 yuan (1.69%) daily [23] - The US dollar to RMB exchange rate is 6.978, up 0.0033 (0.05%) [23] - The differences between battery - grade lithium carbonate and industrial - grade lithium carbonate, battery - grade lithium carbonate and battery - grade lithium hydroxide, and battery - grade lithium hydroxide CIF in Japan, South Korea and domestic prices also have corresponding daily and weekly changes [26] 3.3 Basis and Warehouse Receipt Data - The basis of the main continuous contract of lithium carbonate and the near - month contract of lithium carbonate are presented in the form of historical charts [29][30] - Different lithium carbonate brands have different basis quotes for the LC2601 contract, with some having zero daily changes and some having non - zero changes [31] - The total number of warehouse receipts is 26,898 lots, up 928 lots. Different storage locations have different changes in warehouse receipt quantities [35] 3.4 Cost - Profit Data - The production profits of lithium carbonate from外购 lithium ore (lithium spodumene and lithium mica) are presented in historical charts [37] - The production profits of lithium hydroxide by causticizing method and smelting method are presented in historical charts [37] - The theoretical delivery profit of lithium carbonate, the export profit of lithium hydroxide, and the import profit of lithium carbonate are presented in historical charts [38][39]

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - No information provided 3. Summary by Directory 3.1 Futures Data - The strong support level of the lithium carbonate futures main contract is 120,000 yuan/ton, with a current volatility of 65.3% and a historical percentile of 93.2% over 3 years [3] - The closing price of the main contract was 166,980 yuan/ton, up 10,920 yuan (7.00%) daily and 29,040 yuan (21.05%) weekly. The trading volume was 608,177 lots, up 539,686 lots (787.97%) daily and 303,940 lots (99.90%) weekly. The open interest was 460,281 lots, down 46,421 lots (-9.16%) daily and 74,718 lots (-13.97%) weekly [4] - The closing price of the weighted index contract was 167,443 yuan/ton, up 10,934 yuan (6.99%) daily and 29,277 yuan (21.19%) weekly. The trading volume was 1,181,972 lots, up 1,053,672 lots (821.26%) daily and 646,397 lots (120.69%) weekly. The open interest was 901,351 lots, down 93,555 lots (-9.40%) daily and 95,114 lots (-9.55%) weekly [4] - The LC2605 - LC2607 spread was -620 yuan/ton, up 360 yuan (-36.73%) daily and 60 yuan (-8.82%) weekly. The LC2605 - LC2609 spread was -2,220 yuan/ton, up 140 yuan (-5.93%) daily and down 140 yuan (6.73%) weekly. The LC2607 - LC2609 spread was -1,600 yuan/ton, down 220 yuan (15.94%) daily and 200 yuan (14.29%) weekly [4] - The Guangzhou Futures Exchange lithium carbonate warehouse receipts were 25,970 lots, up 610 lots (2.41%) daily and 5,689 lots (28.05%) weekly [4] 3.2 Spot Data - Lithium ore prices showed significant increases. For example, lithium mica (2 - 2.5%) rose to 4,950 yuan/ton, up 310 yuan (6.68%); lithium spodumene (3 - 4%) rose to 8,625 yuan/ton, up 225 yuan (2.68%) [20] - Lithium salt prices also increased. Industrial - grade lithium carbonate rose to 156,000 yuan/ton, up 7,500 yuan (5.05%); battery - grade lithium carbonate rose to 159,500 yuan/ton, up 7,500 yuan (4.93%) [20] - Other products like industrial - grade lithium hydroxide, battery - grade lithium hydroxide, and various cathode materials and electrolytes also had price increases to varying degrees [20][22] 3.3 Basis and Warehouse Receipt Data - The basis of the main continuous contract, near - month contract, and brand - based basis of lithium carbonate are presented, along with the basis quotes of different companies such as Shengxin Lithium Energy, Tianqi Lithium, etc. [29][30][31] - The total number of warehouse receipts was 25,970 lots, an increase of 610 lots. Some warehouses had changes in warehouse receipt quantities, such as Rongjie Group increasing by 230 lots and Shanghai Guochu decreasing by 13 lots [35] 3.4 Cost and Profit - The production profits of lithium carbonate from purchased lithium ore (lithium spodumene and lithium mica), the production profits of lithium hydroxide by causticization and smelting methods, the theoretical delivery profit of lithium carbonate, and the export profit of lithium hydroxide and import profit of lithium carbonate are presented [37][38][39]