On August 17, multiple brokerages released updated research reports covering the new‑energy industrial chain. Analysts observed accelerated inventory drawdown for domestic lithium carbonate. Excessively bearish market expectations about long‑term oversupply have been corrected, and lithium‑salt prices are expected to be re‑priced based on real‑world supply‑demand fundamentals. Domestic smelters kept cutting output and carrying out maintenance works across July and August, squeezing actual lithium‑salt output. Meanwhile, operating rates among downstream power‑battery manufacturers climbed steadily.

Survey data shows that August production scheduling for domestic power‑battery manufacturers hit 311.85 GWh, rising 5.71 percent month‑on‑month. Downstream producers are building inventories ahead of the traditional September‑October sales boom period for new‑energy vehicles. Energy‑storage‑battery orders also maintained solid momentum, supported by continuous demand from overseas energy‑storage projects. With shrinking supply together with downstream inventory replenishment, overall industry inventory levels kept falling, easing heavy stock pressure that previously weighed on lithium‑salt quotations.

Significant uncertainties remain. New overseas lithium‑mine capacity will keep coming online step‑by‑step. If end‑market new‑energy‑vehicle consumption falls short of forecasts, upside room for lithium‑price rebounds will be limited. Industry institutions warn that lithium‑salt sectors will not repeat previous extreme surges; any recovery will be moderate and fundamental‑driven. Upstream and downstream firms across the supply chain push cost‑reduction initiatives and upgrade technical solutions, preparing for expected sales improvement in the fourth quarter.