Kingwos Finance| Citigroup's research report pointed out that the current lithium battery cycle is at a low point. Due to supply cuts and project delays, it is expected that the lithium market will gradually rebalance by 2026.
The bank stated that 1) it is expected that the global energy storage system demand will increase by 40% year-on-year in 2025, and the demand for electric vehicle batteries will grow by 20%. 2) It is expected that by 2026, the lithium market will gradually rebalance due to supply cuts and project delays. Currently, the market relies on cost curves, and the Greenbushes mine is the only profitable mine based on full costs. The bank maintains Contemporary Amperex Technology (300750) and Eve Energy Co.,Ltd. (300014) as the preferred choices in the lithium battery industry chain.