CITIC Construction Investment released a research report saying that previously, lithium prices were included in too many long-term supply easing expectations, and the rapid depletion of stocks during the off-season exceeded market expectations; as the peak season approached, the market was moving towards both supply and demand, further removal at low inventory levels or a stronger boost to prices. The maintenance of lithium salt plants has been completed in stages, production has rebounded, downstream demand has remained high, cathode materials have started high, and inventories have maintained a trend of elimination. According to SMM, the large sample inventory this week was 86,000 tons, and 0.75,000 tons were removed from month to month. Removal from storage accelerated for 8 consecutive weeks. Currently, the inventory volume has dropped to the lowest level in the year. According to a sample survey of 27 battery companies in Baichuan Yingfu, in August 2026, the total production schedule of Chinese battery companies was 311.85 GWh, an increase of 5.71% over the previous month, and is expected to continue to accelerate in the future. Lithium prices may gradually move from previous forward overpricing to recent fundamental pricing, and we are optimistic about lithium price performance during the peak season.

CITIC Construction Investment released a research report saying that previously, lithium prices were included in too many long-term supply easing expectations, and the rapid depletion of stocks during the off-season exceeded market expectations; as the peak season approached, the market was moving towards both supply and demand, further removal at low inventory levels or a stronger boost to prices. The maintenance of lithium salt plants has been completed in stages, production has rebounded, downstream demand has remained high, cathode materials have started high, and inventories have maintained a trend of elimination. According to SMM, the large sample inventory this week was 86,000 tons, and 0.75,000 tons were removed from month to month. Removal from storage accelerated for 8 consecutive weeks. Currently, the inventory volume has dropped to the lowest level in the year. According to a sample survey of 27 battery companies in Baichuan Yingfu, in August 2026, the total production schedule of Chinese battery companies was 311.85 GWh, an increase of 5.71% over the previous month, and is expected to continue to accelerate in the future. Lithium prices may gradually move from previous forward overpricing to recent fundamental pricing, and we are optimistic about lithium price performance during the peak season.