CITIC Securities research says as newly arrived supply is largely absorbed by demand, previously hidden older inventory is gradually surfacing. SMM (Shanghai Metals Market) has adjusted its inventory structure to raise sample coverage of traders and cell makers, rendering traders' hidden stock and cell makers' customer-supplied reserves visible. The new-sample latest weekly inventory stood at 137,000 t, down 0.8% WoW; the old-sample weekly inventory was 101,000 t, down 1.2% WoW. During the week,

CITIC Securities research says as newly arrived supply is largely absorbed by demand, previously hidden older inventory is gradually surfacing. SMM (Shanghai Metals Market) has adjusted its inventory structure to raise sample coverage of traders and cell makers, rendering traders' hidden stock and cell makers' customer-supplied reserves visible. The new-sample latest weekly inventory stood at 137,000 t, down 0.8% WoW; the old-sample weekly inventory was 101,000 t, down 1.2% WoW. During the week, as prices fell further, purchase intent strengthened, restocking willingness rose and buying activity became active. Lithium carbonate output edged lower this week, mainly due to spodumene-line maintenance; due to tight feedstock, output is expected to remain on a downward trend in May–June. Downstream energy-storage production scheduling remains at a high level and a rebound in demand momentum provides base support, leaving lithium prices in a short-term consolidation phase.