晨间洞察：2026年6月12日

Morning Insight:June 12, 2026 Certification：Z0002332gaolinlin@gtht.com Yu Chen Wu (Contact)Certification：F03133175 wuyuchen@gtht.com Main Body Lithium Carbonate:Prices surged on strengthening supply-demand dynamics.Lithium carbonate futures rallied sharply yesterday, with the mostactively traded contract closing at RMB 174,600/tonne, up 4.44% on theday. The primary catalyst was the concentrated emergence of multiplesupply-side tightening expectations, reinforced by resilient demand sector. The resulting transmission of positive momentum from equitiesinto commodities encouraged fresh capital inflows, further lifting Looking ahead, while the inventory-drawdown narrative under tightersupply-demand conditions continues to provide upward momentum, investors Overall, lithium carbonate prices are likely to remain in a wide tradingrange, with supportive fundamentals underpinning valuations. However, Open Interest Source：iFind, GUOTAIJUNAN FUTURESResearch Source：iFind, GUOTAIJUNAN FUTURES Source：iFind, GUOTAIJUNAN FUTURES Source：iFind, GUOTAIJUNAN FUTURES News Highlights: 1. More than two years after the introduction of a three-year action planto boost the development and application of data as a production factor, Luan Jie, deputy director of the department of policy and planning of theNDA, said at a press conference that the country has made significant various sectors. China has been stepping up efforts to develop its data market in recentyears. In 2020, the country listed data as a new type of production The NDA, which was established in October 2023, is tasked with advancingthe planning and development of a Digital China, the digital economy and The three-year action plan on data as a production factor sets outefforts to expand the breadth and depth of data applications across key The NDA has released 417 typical cases and identified 760 typicalapplication scenarios involving data as a production factor across 11 In 2025, China's total volume of active data reached 1.67 zettabytes, up28.46 percent year on year, Luan said. A zettabyte is the equivalent of The number of enterprise data products and services rose 29.29 percent The NDA will further improve data governance, deepen scenario-basedapplications and enhance value creation, transforming policy dividends 2. Construction has commenced on an ultra-large liquefied natural gas (LNG) carrier with a capacity of 271,000 cubic meters, underscoringChina's growing strength in high-end shipbuilding and global energy The QC-Max class vessel, built by Hudong-Zhonghua Shipbuilding (Group)Co., Ltd. under China State Shipbuilding Corporation (CSSC), is scheduled Measuring 344 meters in length, the mega-ship features an upgradedmembrane containment system designed to maximize cargo capacity, enhance Compared toconventional 174,000-cubic-meter LNG carriers currentlydominating the market, the new vessel offers a 57 percent increase in Built for a large-scale Qatari LNG project, the vessel highlights Hudong-Zhonghua's role as a leading shipbuilder. It has won orders for 36 Often dubbed the "crown jewel" of the shipbuilding industry due to itsextreme technical complexity and demanding supply chain requirements, LNG The shipyard currently holds nearly 60 pending orders for LNG vessels--the largest backlog globally by cargovolume--with production schedules Driven by surging capacity and technological breakthroughs, China'sglobal market share in LNG carrier construction has surpassed 30 percent, advanced maritime vessels. Industry data highlights the broader momentum of China's maritime sector.In 2025, China accounted for 56.1 percent of global ship completions, 69 Supported by an extensive industrial cluster of over 486,000 entities,the nation's shipbuilding sector is rapidly shifting toward higher value- 3. The 10th China-South Asia Expo kicked off on Thursday in Kunming City,capital of southwest China's Yunnan Province. The event has put an The six-day event has attracted participants from 68 countries, regionsand international organizations. Over 560 companies from South Asian The expo features 13 pavilions, covering sectors ranging from greenenergy, service trade and manufacturing to the coffee industry. For the The first day of the expo is reserved for professional visitors, with thefollowing five days open to the public. Featured products include black Having been successfully held nine times, the China-South Asia Expo has 100 billion U.S. dollars. China has now become the largest tradingpartner of Pakistan, Bangladesh, Sri Lanka and the Maldives. In 2025, Guotai Junan Futures Co., Ltd. (hereinafter referred to as "the Company") is qualified to conduct investment consultingbusiness in the futures market, as approved by the China Securities Regulatory Commission (Approval No. [2011]1449). The views and information contained in this report are intended solely for the reference of the Company’s professionalinvestors. This report is n