Lithium carbonate broke through 100,000 again, will it hit the previous low?

Jinshi Futures June 5th news, in the short term, the supply side of the salt lake and pyroxene operating rate has been at a high level, continue to improve the space is relatively limited; and as the lithium price fell below 100,000, part of the lithium carbonate production profits inverted again, or limit the start of some lithium salt plants, domestic production continues to increase or hindered. However, import expectations remain high, superimposed on the July warehouse orders are cancelled, a large number of old warehouse orders will flow into the market, the overall supply is still relatively sufficient. On the demand side, a series of favorable policies help to improve end point demand expectations, but the specific effect remains to be confirmed. For now, the energy storage market or remain stable, new energy vehicle demand expectations are not good, pay attention to the June material factory production schedule. < br > Overall, < b > Weak supply and demand may lead to continued weakness in the price of lithium carbonate . However, prices below 100,000 will gradually approach the production costs of some lithium salt plants, which will limit the release of high-cost production capacity. Low prices will also stimulate some hedging and speculative demand. < b > Future prices may decline resistance , the market has entered a more difficult bottoming stage, and the operating range of lithium carbonate has been reduced to around [9.5, 10.5]. Considering that the pattern of lithium carbonate overcapacity has not changed, lithium prices are still in a downward cycle. From a strategic point of view, it is recommended to still sell short on highs.