CITIC Securities Expects Lithium Prices to Rise in Coming Months

CITIC Securities reported on May 12 that disruptions in African lithium resource supply have not been resolved, and domestic lithium mica supply may face new variables. According to Jin10, Greenbushes has lowered its annual production guidance, and the marginal increase in South American lithium salt exports has declined, leading to an overall supply contraction in the next 2-3 months. The demand for power and energy storage batteries in 2026 is exceeding expectations, with lithium battery production in May increasing compared to the previous month. CITIC Securities expects that the favorable supply-demand dynamics may drive lithium prices to rise to 250,000 yuan per ton in the next 2-3 months.