Caixin News Agency News that suffered from lithium carbonate prices fell sharply year-on-year, a number of lithium salt enterprises in the first half of the year performance decline.

On July 9, seven lithium salt enterprises released the first half of the performance forecast shows that a number of enterprises net profit year-on-year decline, of which Tianqi lithium and Ganfeng lithium is year-on-year from profit to loss. This trend mainly stems from the decline in the price of lithium compound products, resulting in a decline in the gross profit margin of lithium new energy business.

From the second quarter, salt lake shares, mineral resources, jiangte electric machinery, ganfeng lithium net profit ring in the range of rise and fall, rongjie shares ring 341.01% -458.47%, yongxing materials ring 24.79% -48.29% decline, tianqi lithium industry ring significantly reduced losses.

In the short term, according to Lonza information analysis, the end of June lithium carbonate spot and futures prices fell, did not cause a significant supply reduction, and the main futures contract rebounded after a deep fall, to a certain extent, boosted market sentiment, July downstream demand growth is not expected to be enough, the supply exceeds demand fundamentals are difficult to improve in the short term, it is expected that July lithium carbonate spot prices are still mainly run on the weak.

In the long term, the industry has not yet changed the supply exceeds demand fundamentals. Minmetals futures lithium carbonate researcher Zeng Yu Ke previously said publicly, is expected in 2024 ( based on lithium carbonate price per ton of 100,000 yuan) global lithium resources supply reached 1.55 million tons of LCE, compared with the 2023 growth of about 47%. Combined with new energy vehicles and new energy storage driven, 2024 annual lithium shipments are expected to grow nearly 30%, the total demand for lithium carbonate in 2024 is expected to be 70.59 million tons.