1. Report Industry Investment Rating - No information provided in the report 2. Core Viewpoints - No clear core viewpoints are presented in the report. It mainly provides various data on the lithium carbonate market, including futures, spot, basis, and cost - profit data. 3. Summary by Directory 3.1 Futures Data - **Price Range and Volatility**: The strong support level of the lithium carbonate futures main contract is 120,000 yuan/ton, with a current 20 - day rolling volatility of 82.0% and a 3 - year historical percentile of 96.7% [3] - **Futures Contract Data**: The closing price of the main contract is 166,740 yuan/ton, with a daily increase of 6,240 yuan (3.89%) and a weekly increase of 4,800 yuan (2.96%); the trading volume is 376,418 lots, with a daily decrease of 74,656 lots (-16.55%) and a weekly decrease of 212,601 lots (-36.09%); the open interest is 427,928 lots, with a daily increase of 12,577 lots (3.03%) and a weekly decrease of 24,655 lots (-5.45%) [4] - **CME and LME Futures**: CME and LME have data on lithium hydroxide and lithium spodumene futures, showing prices, trading volumes, and open interests for different contract months [16] 3.2 Spot Data - **Lithium Ore**: Lithium ore prices, such as lithium mica (2 - 2.5%) at 4,835 yuan/ton (up 125 yuan, 2.65% daily), lithium spodumene (3 - 4%) at 8,450 yuan/ton (up 155 yuan, 1.87% daily), and others, have different price changes [21] - **Lithium Salts**: Industrial - grade lithium carbonate is at 155,000 yuan/ton (up 6,000 yuan, 4.03% daily), battery - grade lithium carbonate is at 158,500 yuan/ton (up 6,000 yuan, 3.93% daily), etc [21] - **Cell Materials**: Prices of cell materials like energy - storage lithium iron phosphate (2.5g) at 56,190 yuan/ton (up 1,450 yuan, 2.65% daily), and power lithium iron phosphate (2.5g) at 55,595 yuan/ton (up 1,455 yuan, 2.69% daily), have different price fluctuations [22] - **Price Spreads**: There are price spreads between different lithium products, such as the spread between battery - grade and industrial - grade lithium carbonate at 3,500 yuan/ton [26] 3.3 Basis and Warehouse Receipt Data - **Basis**: The basis of the main continuous contract and near - month contract of lithium carbonate shows different trends over time; brand - specific basis quotes for lithium carbonate from different companies are also provided, such as - 1,200 yuan for Shengxin Lithium Energy's LC2601 contract [31][33] - **Warehouse Receipts**: The total number of lithium carbonate warehouse receipts is 27,698 lots, with some changes in individual warehouse receipts, like a decrease of 13 lots in Shanghai State Reserve [36] 3.4 Cost and Profit - **Production Profit**: The production profit of lithium carbonate from purchased lithium ore (lithium spodumene concentrate and lithium mica concentrate) and the production profit of lithium hydroxide by causticizing and smelting methods are presented [38] - **Delivery and Trade Profits**: The theoretical delivery profit of lithium carbonate, the export profit of lithium hydroxide, and the import profit of lithium carbonate are also shown [39]