Citic Securities: Demand Season Approaching, Production Continues to Rise, Lithium Price Fundamentals Still Strong
Citic Securities research report states that on the supply side, prices of Australian ores and lithium mica have risen, with Australian ores' CIF spot price increasing to $1100 per ton, and domestic 2%-2.5% mica ore prices rising to 2190 yuan per ton. Rising costs coupled with environmental protection measures have led to lower operating rates in lithium salt plants. Despite this, lithium salt plants are still maintaining strong pricing, with spot prices remaining high and low-priced spot goods difficult to find.
On the demand side, March saw a good recovery in production compared to the previous month, and April production continued to rise. This lays a strong foundation for high consumption growth in the second quarter, with increasing demand in terminal and energy storage for power batteries. Currently, the lithium price fundamentals from both supply and demand sides are strong, and terminal consumption continues to support high lithium prices.
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