【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇11月25日｜碳酸锂主力合约日内涨幅扩大至2.00%，现报93160元/吨。 （责任编辑：宋政 HN002） ...

来源：市场投研资讯 （来源：汇丰晋信基金） 本周市场回顾 本周A股市场呈现调整趋势，本周上证指数累计跌幅3.90%，深证成指累计跌幅5.13%，创业板指累计跌幅6.15%，微盘股指数表现弱于大盘，显示 小盘股的调整压力更大。内部因素来看，10月工业增加值同比增速回落至4.9%，社零增速降至2.9%，房地产持续回调，拖累市场信心；外部因素上 看，地缘政治风险、美联储鹰派表态、美股的震荡调整，也对A股情绪形成扰动。 表一：本周各指数涨跌幅 数据来源：Wind，截至2025.11.21。过往表现不预示未来，市场有风险，投资需谨慎。 本周银行板块防御性凸显 近期国内外大厂相继发布AI应用端的重大进展，某电子商务龙头公司推出"千问"app，全面对标ChatGPT，并迅速冲入苹果免费榜前四；同时， OpenAI发布下一代视频生成模型Sora2，以AI营销、AI智能体为首的 AI应用端全线爆发，逆势走强。 *文中所示公司仅作示意，不构成投资建议，市场有风险，投资需谨慎。 11月19日，广期所碳酸锂主力合约自2024年6月以来首次突破10万元/吨关口，锂矿股再获提振，但后半段动力不足，同时前期强势的电解液方向回 落，锂电产业 ...

Core Viewpoint - The main contract for lithium carbonate turned from an increase to a decrease during trading on November 20, with a current price of 98,820 yuan per ton, after previously rising over 4% [1] Group 1 - The lithium carbonate main contract experienced a price fluctuation, initially rising more than 4% before reversing to a decline [1]

Core Viewpoint - The main contract for lithium carbonate has seen a price increase of 4%, currently reported at 102,100 yuan per ton [1] Group 1 - The price of lithium carbonate has rebounded, indicating a potential recovery in the market [1]

Core Viewpoint - The main contract for lithium carbonate has increased by over 4% in a single day, currently priced at 98,400 yuan per ton [1] Group 1 - The price movement indicates a significant rise in demand or market speculation surrounding lithium carbonate [1] - The current price level reflects ongoing trends in the lithium market, which is influenced by various factors including electric vehicle production and battery manufacturing [1]

Core Viewpoint - The main point of the article is that the lithium carbonate futures contract on the Guangxi Futures Exchange has reached a new high, indicating a significant increase in market demand and pricing for lithium carbonate, which is crucial for battery production and electric vehicles [1] Group 1 - The lithium carbonate main contract on the Guangxi Futures Exchange hit the limit up, reaching a price of 95,200 yuan per ton [1] - The current increase in price is 9.0%, marking the highest level since July 2024 [1]

Core Viewpoint - The main contract for lithium carbonate has reached its daily limit, increasing by 9% to 95,200 yuan per ton, marking the highest level since July 2024 [1] Group 1 - The price increase of lithium carbonate indicates strong market demand and potential bullish trends in the lithium industry [1] - The current price of 95,200 yuan per ton reflects a significant rise, suggesting a recovery or growth phase in the lithium market [1]

Market Overview - The futures market shows a bullish sentiment with 55 contracts rising and 25 contracts falling today, indicating increased trading activity in upward-moving varieties [2] - The top gainers include silver futures (+5.47%), polysilicon (+3.69%), and apples (+3.32%), driven by supply and demand factors [5] - The largest capital inflows were seen in aluminum (+5.92 billion CNY), apples (+4.42 billion CNY), and gold (+4.03 billion CNY), suggesting strong interest from major funds [8] Key Events - India's palm oil imports in October fell to 602,381 tons, marking a significant decrease from September's 833,017 tons, with palm oil's share of total vegetable oil imports dropping below 50% for the first time [12] - The production and inventory of rebar steel have decreased for two consecutive weeks, with production at 2 million tons, down 4.1% from the previous week [13] Inventory and Supply Chain Insights - The total inventory of float glass in sample enterprises reached 63.247 million heavy boxes, reflecting a year-on-year increase of 33.61% [14] - Domestic soda ash inventory stood at 1.7073 million tons, with slight fluctuations in light and heavy soda ash stocks, indicating limited demand changes [14] Commodity Specific Insights - Lithium carbonate futures rose by 1.39% to 87,840 CNY/ton, driven by unexpected demand in energy storage and speculative trading [22] - SC crude oil futures fell by 3.66% to 449.5 CNY/barrel, influenced by ongoing OPEC+ production increases and seasonal inventory builds [25] - Silver futures reached a historical high, closing up 5.48% at 12,588 CNY/kg, supported by liquidity recovery following the end of the U.S. government shutdown [26]

Core Viewpoint - The domestic futures market closed with mixed results, highlighting significant movements in various commodities, particularly lithium carbonate which saw a notable increase of over 7% [1] Group 1: Commodity Performance - Lithium carbonate's main contract rose by more than 7% [1] - Shanghai silver and gold both increased by over 2% [1] - Other commodities such as apples, alumina, pulp, liquefied gas, soda ash, industrial silicon, crude oil, and polysilicon also experienced gains exceeding 1% [1] Group 2: Declining Commodities - Glass prices fell by more than 2% [1] - Shipping rates on the European line, coke, asphalt, and eggs all declined by over 1% [1]

Core Viewpoint - The main contract for lithium carbonate has increased by over 3%, currently priced at 84,900 yuan per ton [1] Group 1 - The price increase of lithium carbonate indicates a rising demand in the market [1]