CITIC Securities: Adjusting the forecast for the lithium price operating range in the second half of the year to 60,000-70,000 yuan/ton

CITIC Securities released a research report indicating that the decline in lithium prices slowed down in Q1 2025, leading to a slight recovery in overseas lithium mine prices and improved operations for salt lake companies, while the supply side is clearing slowly. Since the second quarter, as lithium prices fell to 60,000 yuan/ton, the industry's loss coverage has significantly expanded, with expectations for mine production cuts and price stabilization rebounding. However, the demand for cost reduction and maintaining market share has resulted in production cuts being less than expected, and it is anticipated that lithium prices will enter a difficult bottoming process. CITIC Securities adjusted its forecast for the lithium price range in the second half of 2025 to 60,000-70,000 yuan/ton and suggested paying attention to low-cost targets that may benefit during the rebound process when lithium prices hit bottom