[SMM Lithium Carbonate Futures Review: LC2407 Main Contract Declines by 0.61%]

This week, the battery industry chain showed divergent trends. Spot lithium ore was tight, but expectations of future supply growth weighed on prices. On October 12, the average spot price of lithium carbonate fell to 115,400 yuan/mt, down 6,950 yuan/mt in a single day. Futures declined with rising open interest, while social inventory continued to destock. Lithium hydroxide, cobalt salt, and nickel sulphate were under pressure, with cautious purchasing. Ternary cathode precursor, ternary cathode material, and LCO weakened along with raw materials. LFP orders were relatively strong, with high-quality production lines running near full capacity and finished product inventories declining. Iron phosphate operating rates were high, but resistance to price increases grew. Artificial graphite edged up, supported by costs and demand, while natural graphite operated at low levels. Separator was supported by NEV, energy storage, and export rush demand, with supply-demand conditions tight. Electrolyte rose due to lagged cost pass-through. Sodium-ion battery production and delivery were stable, while recycling-side inquiries recovered but transactions did not increase in volume. In news, CATL deepened cooperation with Seres. In the first three quarters, NEV production and sales both exceeded 12 million units. Export tax rebate policy adjustments and China-EU automotive trade consultations drew attention.

Pada awal pekan ini, rantai industri kobalt secara keseluruhan masih lemah, dengan pembelian di hilir terutama berdasarkan kebutuhan dan perdagangan pasar yang lesu. Harga pabrik utama kobalt murni bertahan di 270.000 yuan/mt, sementara pedagang menaikkan basis harga. Terdapat perbedaan antara harga pembelian dasar sebesar $14,5/lb untuk produk antara dan harga penerimaan di hilir di bawah $13/lb. Kobalt sulfat ditawarkan sekitar 60.000 yuan/mt, dengan dukungan biaya yang melemah; kobalt klorida dan Co3O4 mengalami pemangkasan produksi dan pengurangan stok, sementara pesanan baru tidak mencukupi. Harga bubuk kobalt turun menjadi 325.000–340.000 yuan/mt, dan persediaan berharga tinggi membebani pembelian. Harga prekursor katoda terner dan bahan katoda terner melemah, dengan koefisien pesanan di bawah tekanan; pesanan ekspor relatif lebih baik, sementara pemulihan permintaan domestik masih terbatas. LCO ikut turun seiring biaya, dan ekspektasi musim puncak tidak terwujud. Industri ini mencermati perubahan pesanan setelah konferensi tahunan. Dalam berita, CATL dan Seres memperdalam kerja sama dalam kapasitas dan di luar Tiongkok; produksi dan penjualan NEV keduanya melampaui 12 juta unit dalam tiga kuartal pertama, dengan pertumbuhan ekspor yang signifikan; tarif rabat ekspor akan diturunkan, dan konsultasi perdagangan otomotif Tiongkok-UE mengklarifikasi prinsip-prinsip dasar.