瑞达期货研究院 「2026.01.09」 碳酸锂市场周报 刚需采买降库放缓，锂价或将震荡运行 研究员:陈思嘉 期货从业资格号 F03118799 期货投资咨询 从业证书号 Z0022803 取 更 多 资 讯 业务咨询 添加客服 关 注 我 们 获 目录 1、周度要点小结 2、期现市场 3、产业情况 「 周度要点小结」 行情回顾：碳酸锂主力周线震荡偏强，涨跌幅为+17.69%，振幅21.15%。截止本周主力合约收盘报价143420元/吨。 后市展望：宏观方面，商务部等九部门联合发文实施绿色消费推进行动，从丰富绿色产品供给、提升绿色服务消费、 创新绿色消费模式等7方面20条具体举措。支持消费者购买新能源汽车。基本面原料端，锂矿报价随着碳酸锂价格不 断走高，由于碳酸锂盘面价格较优，或存在一定套保空间，令原料成交情况有所转好。供给端，由于盘面套保空间存 在，冶炼厂参与后或将保持较为积极的生产状态，国内供给量保持小幅提升态势。需求端，下游电池正极材料厂对当 下高价锂心里接受度普遍较低，采购策略多以刚需采买为主，故市场观望情绪仍较浓，相对谨慎。整体来看，碳酸锂 基本面或处于供给小增、需求谨慎的阶段，产业库存较上周基本持 ...

碳酸锂日报 碳酸锂日报（2026 年 1 月 8 日） | | | 锂电产业链产品价格 | | | | | | --- | --- | --- | --- | --- | --- | --- | | | | 指 标 | 单 位 | 2026-01-07 | 2026-01-06 | 涨 跌 | | | 期 货 | 主力合约收盘价 | 元/吨 | 142300 | 137940 | 4360 | | | | 连续合约收盘价 | 元/吨 | 139960 | 134360 | 5600 | | | | 锂辉石精矿(6%,CIF中国) | 美元/吨 | 1770 | 1640 | 130 | | | | 锂云母（Li2O:1.5%-2.0%） | 元/吨 | 2575 | 2475 | 100 | | | 锂 矿 | 锂云母（Li2O:2.0%-2.5%） | 元/吨 | 3825 | 3715 | 110 | | | | 磷锂铝石（Li2O:6%-7%） | 元/吨 | 13775 | 13275 | 500 | | | | 磷锂铝石（Li2O:7%-8%） | 元/吨 | 15450 | 14925 | 525 ...

证券日报网讯1月7日，湘潭电化（002125）在互动平台回答投资者提问时表示，公司密切关注电池技术 发展动向，当前正在加大锰酸锂产品研发力度，推进技术攻关，力争实现技术突破。 ...

证券日报网讯1月7日，湘潭电化（002125）在互动平台回答投资者提问时表示，截至2025年12月31日， 公司股东人数为56998户。公司不生产磷酸铁锂，主导产品为电解二氧化锰和锰酸锂。 ...

每经AI快讯，有投资者在投资者互动平台提问：董秘，你好！请问是否关注名爵mg4的半固态电池12月 交付的消息，据报道其正极采用尖晶石型锰酸锂材料，若按锰酸锂的分子式和锰的分子量，可以预见若 尖晶石型锰酸锂成为动力电池主流，则锰的需求剧增，建议公司加大对尖晶石锰酸锂的研发，加大产能 建设力度，并做好锰矿的储备。 湘潭电化（002125.SZ）1月7日在投资者互动平台表示，您好！公司密切关注电池技术发展动向，当前 正在加大锰酸锂产品研发力度，推进技术攻关，力争实现技术突破。感谢您的建议与关注！ （文章来源：每日经济新闻） ...

碳酸锂日报 碳酸锂日报（2026 年 1 月 6 日） 一、研究观点 点 评 请务必阅读正文之后的免责条款部分 EVERBRIGHT FUTURES 1 1. 昨日碳酸锂期货 2605 合约涨 7.74%至 129980 元/吨。现货价格方面，电池级碳酸锂平均价上涨 1000 元/吨至 119500 元/吨，工业级碳酸锂平均价上涨 1500 元/吨至 117000 元/吨，电池级氢氧化锂（粗 颗粒）上涨 500 元/吨至 110800 元/吨。仓单方面，昨日仓单库存维持 20281 吨。 2. 供给端，周度产量环比增加 259 吨至 22420 吨，其中锂辉石提锂环比增加 60 吨至 13924 吨，锂云母 产量环比增加 70 吨至 2936 吨，盐湖提锂环比增加 70 吨至 3145 吨，回收料提锂环比增加 59 吨至 2415 吨。2026 年 1 月碳酸锂产量预计环比下降 1.2%至 97970 吨，其中盐湖、云母和回收提锂分别 下降 0.3%、6.4%和 7.4%，锂辉石提锂环比增加 0.7%。需求端，2026 年 1 月三元材料产量预计环比 下降 4.43%至 78180 吨；磷酸铁锂产量预计环比下 ...

新年伊始，贵州百思特新能源材料有限公司生产车间，叉车往来穿梭高效装车，正在装载产品的运输货 车等候出发。车间工人身着工装有序装料、巡检；智能化生产设备24小时高速运转，尽显满产满销的蓬 勃生机。 转自：贵州日报 百思特生产车间，工人在打包锰酸锂。 （贵州大龙 经济开发区新闻信息中心供图） 为实现新一轮的突破，百思特在2024年投资5000万元完成生产线提档升级，将日产能从12吨大幅提升至 40吨，同时实现能耗降低40%，4条生产线满产状态下年产能可达2万吨，用30亩厂区创造了可观的经济 效益，成为行业内"提质增效"的典范。 如今，为进一步巩固市场优势，公司投资300万元新增一条高性能生产线。目前，该生产线正处于安装 和无料调试阶段，春节后进入有料调试并正式投用。 新的一年，我们将组织员工按照计划有序赶制生产订单，加快新生产线提质技改进程，逐步降低生产能 耗，提高产品质量，为客户和市场提供更高品质的锰酸锂产品。面对市场波动和行业内卷，只有不断提 高产品性价比，才能更好地赢得客户青睐，稳定和提高市场份额，实现企业创新发展。 （贵州日报天眼新闻记者 葛永智 整理） 在公司智能化生产车间，新增的高性能生产线开足马力。 ...

瑞达期货研究院 「2025.12.31」 研究员:陈思嘉 期货从业资格号 F03118799 期货投资咨询 从业证书号 Z0022803 取 更 多 资 讯 业务咨询 添加客服 关 注 我 们 获 目录 1、周度要点小结 2、期现市场 3、产业情况 「 周度要点小结」 碳酸锂市场周报 供需稳定库存去化，锂价或将有所支撑 3 行情回顾：碳酸锂主力周线震荡回落，涨跌幅为-6.85%，振幅14.62%。截止本周主力合约收盘报价121580元/吨。 后市展望：宏观方面，2026年国补方案正式发布，国家发改委、财政部印发《关于2026年实施大规模设备更新和消 费品以旧换新政策的通知》，同时下达首批625亿元资金支持消费品以旧换新。2026年国补对象新增智能眼镜、智能 家居等智能产品，剔除家装、电动自行车两大类。购买新车按车价补贴12%或10%，补贴上限仍延续2025年标准。 基本面原料端，受碳酸锂价格高位运行的影响，锂矿价格逐步走高，加之冶炼厂原料库存较为充足，面对高价原料有 一定观望状态。供给端，锂盐厂生产意愿较积极，加之原料较为充足，国内供给量保持稳定增长态势。需求端，下游 采买情绪受碳酸锂高价影响而逐渐谨慎，采购 ...

证券日报网讯12月30日，中钢天源（002057）在互动平台回答投资者提问时表示，公司四氧化三锰产品 可用于锰酸锂、磷酸铁锰锂等电池材料中，是锰基正极产业链中重要的上游材料。 ...

1. Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The lithium carbonate market is expected to be supported by stable supply growth and good demand. It is recommended to trade with a light - position, bullish - biased strategy while controlling risks and paying attention to trading rhythm [7] 3. Summary by Relevant Catalogs 3.1 Weekly Highlights Summary - **Market Performance**: The main contract of lithium carbonate showed a volatile and slightly upward trend on the weekly chart, with a price increase of +17.16% and an amplitude of 19.75%. As of the end of this week, the closing price of the main contract was 130,520 yuan/ton [7] - **Macroeconomic Situation**: The central bank's monetary policy committee held its fourth - quarter meeting, suggesting to give full play to the integrated effects of incremental and existing policies, comprehensively use various tools, strengthen monetary policy regulation, and promote the social comprehensive financing cost to remain at a low level [7] - **Fundamentals** - **Raw Materials**: Affected by the continuously strong price of lithium carbonate, the price of lithium ore has gradually increased. Driven by good profits, smelters still have a certain willingness to purchase and stockpile [7] - **Supply**: Lithium salt plants are actively producing, and with sufficient raw materials, the domestic supply of lithium carbonate has maintained a stable growth trend [7] - **Demand**: The purchasing sentiment of downstream buyers has become more cautious due to the high price of lithium carbonate. Purchases are mainly for rigid demand and long - term contracts. However, due to the strong demand in the downstream new energy vehicle and energy storage industries, the demand for lithium carbonate is good [7] - **Inventory**: Industrial inventory has been continuously depleted, and industry expectations are positive [7] - **Viewpoint**: Trade with a light - position, bullish - biased strategy and pay attention to trading rhythm to control risks [7] 3.2 Futures and Spot Market - **Futures Price**: The futures price of lithium carbonate has shown a volatile upward trend. As of December 26, 2025, the closing price of the main contract was 130,520 yuan/ton, with a week - on - week increase of 19,120 yuan/ton [7][8] - **Spot Price**: The spot price of lithium carbonate has increased. As of December 26, 2025, the average price of battery - grade lithium carbonate was 111,900 yuan/ton, with a week - on - week increase of 14,250 yuan/ton [17] - **Basis**: As of December 26, 2025, the basis of the main contract was - 18,620 yuan/ton, a week - on - week decrease of 4,870 yuan/ton [17] 3.3 Industrial Situation - **Upstream Market** - **Lithium Spodumene**: The price of lithium spodumene concentrate (6% - 6.5%) has strengthened. As of December 26, 2025, the average price was 1,410 US dollars/ton, with a week - on - week increase of 90 US dollars/ton [21] - **Lithium Mica**: The price of lithium mica (Li₂O: 2.0% - 3%) has increased. As of December 26, 2025, the average price was 5,163 yuan/ton, with a week - on - week increase of 762 yuan/ton [26] - **Phospho - Lithium - Alumina Stone**: As of December 26, 2025, the average price of phospho - lithium - alumina stone was 13,525 yuan/ton, with a week - on - week increase of 1,725 yuan/ton [26] - **Supply Side** - **Imports and Exports**: As of November 2025, the monthly import volume of lithium carbonate was 22,055.19 tons, a decrease of 1,825.51 tons from October, a decline of 7.64%, and a year - on - year increase of 14.66%. The monthly export volume was 759.243 tons, an increase of 513.33 tons from October, an increase of 208.75%, and a year - on - year increase of 249% [32] - **Production**: As of November 2025, the monthly output of lithium carbonate was 53,980 tons, an increase of 2,450 tons from October, an increase of 4.75%, and a year - on - year increase of 55.29%. The monthly operating rate was 43%, a month - on - month decrease of 5% and a year - on - year decrease of 32% [32] - **Downstream Demand** - **Hexafluorophosphate Lithium**: The quotation of hexafluorophosphate lithium has remained flat. As of December 26, 2025, the average price was 180,000 yuan/ton. As of November 2025, the monthly output of electrolyte was 231,050 tons, an increase of 12,150 tons from October, an increase of 5.55%, and a year - on - year increase of 37.08% [33][35] - **Lithium Iron Phosphate**: The price of lithium iron phosphate has increased. As of the latest data this week, the average price of power - type lithium iron phosphate was 45,100 yuan/ton, a week - on - week increase of 6,000 yuan/ton. As of November 2025, the monthly output of lithium iron phosphate cathode materials was 268,890 tons, an increase of 2,010 tons from October, an increase of 0.75%, and a year - on - year increase of 29.43%. The monthly operating rate was 63%, a month - on - month decrease of 1% and a year - on - year decrease of 4% [36][38] - **Ternary Materials**: The price of ternary materials has increased, but the output has decreased. As of November 2025, the monthly output of ternary materials was 61,520 tons, a decrease of 500 tons from October, a decline of 0.81%, and a year - on - year increase of 10.65%. The monthly operating rate was 51%, a month - on - month decrease of 1% and a year - on - year increase of 3%. As of the latest data this week, the prices of ternary materials 811, 622, and 523 continued to strengthen [41][43] - **Lithium Manganate**: The price of lithium manganate has increased, but the monthly output has decreased. As of November 2025, the monthly output of lithium manganate was 10,210 tons, a decrease of 90 tons from October, a decline of 0.87%, and a year - on - year decline of 2.67%. As of the latest data this week, the average price of lithium manganate was 45,000 yuan/ton, a week - on - week increase of 7,000 yuan/ton [44][48] - **Lithium Cobaltate**: The quotation of lithium cobaltate has increased, and the monthly output has also increased. As of the latest data this week, the average price of lithium cobaltate was 369,200 yuan/ton, a week - on - week increase of 23,100 yuan/ton. As of November 2025, the monthly output of lithium cobaltate was 16,050 tons, an increase of 260 tons from October, an increase of 1.65%, and a year - on - year increase of 111.74% [49][51] - **Application Side** - **New Energy Vehicles**: As of November 2025, the penetration rate of new energy vehicles was 47.48%, a month - on - month increase of 0.74% and a year - on - year increase of 7.18%. The monthly production was 1.88 million vehicles, a month - on - month increase of 6.09%; the sales volume was 1.823 million vehicles, a month - on - month increase of 6.3% [52][53] - **New Energy Vehicle Exports**: As of November 2025, the cumulative export volume of new energy vehicles was 2.315 million, a year - on - year increase of 102.89% [56][58] - **Options Market**: According to the option parity theory, the premium of the synthetic underlying asset was - 0.28, presenting a reverse arbitrage opportunity. Based on the performance of at - the - money option contracts and fundamental conditions, it is recommended to short volatility by constructing a short straddle option strategy [59][61]