Jefferies：锂产业链调查_疲软状况可能延续至第三季度

USA | Chemicals Equity Research June 12, 2025 Lithium Value Chain Survey: Soft Conditions Likely Spill Into Q3 Our survey of lithium converters (90% of sales in China) and battery material producers (62%) suggests a mixed picture: softness in prices accelerates into Q3; battery volumes are up YoY, in contrast to soft converter volumes and weak sales expectations. Battery producers appear skeptical of order books. Inventories are weak, with converters flagging the need for a restock. The debate shifts to whe ...