CITIC Securities: Under the current background of low inventory, weak supply, and strong demand, lithium prices are expected to continue to rise.

According to the research report of CITIC Securities, the current export of Zimbabwe has not yet substantially recovered. Assuming that shipment will resume by the end of April, it will take a long time to transport the lithium salt back to domestic lithium factories, which will still have an impact on the domestic supply of raw materials in May and June. At the same time, the shortage of oil in Australia has affected the operating levels of mining companies, and supply disruptions are still significant in the second quarter, making it difficult to alleviate the tightness of raw materials. On the consumption side, downstream production expectations are increasing month by month, and data on energy storage and new energy vehicle exports are growing at a high rate. In the current low inventory, weak supply, and strong consumption background, lithium prices are still expected to continue to rise.