Huatai Securities: If we assume a neutral expectation, the global lithium carbonate market is expected to maintain a tight balance between supply and demand in 2026.

Huatai Securities research report pointed out that the liquidity contraction caused by the events in the Middle East and changes in risk preferences have led to the previous weak and volatile operation of lithium prices. However, considering the supply disturbance risks in the Yichun region of China and overseas areas such as Zimbabwe in the second half of the year, and the boost to demand expectations for electric vehicles and energy storage from high oil prices, it is expected that the global lithium carbonate market will maintain a tight balance between supply and demand in 2026 if neutral expectations are assumed.