Lithium ore stocks rebounded, Ganfeng lithium industry rose more than 6%, non -ferrous 60ETF (159881) rose 2%

Lithium mine stocks rebounded, Xiamen's tungsten industry rose daily limit, and China Mining resources rose more than 8%.Colored 60ETF (159881) rose more than 2%, and the turnover exceeded 25 million yuan.

CITIC Construction Investment Securities believes that due to the more uncertainty of the supply of supply, the lithium supply is largely elastic.However, lithium consumption has grown rapidly, and the average compound growth rate of compound growth in 2015-2020 has reached 15%. At present, the penetration rate of new energy vehicles has entered the acceleration period of the S-type growth curve. It is expected to have an annual compound growth rate of lithium consumption from 2021-2025.It will be further accelerated to about 30%. If the new market model is considering the driving of lithium consumption, such as power replacement models and battery rental models, lithium consumption upper elasticity will be amplified.Supply elastic down, consumer elasticity, tight supply or normalization.

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