[Citic Construction Investment: the price decline of lithium salt is expected to come to an end. It is recommended to pay attention to the bottom layout opportunity]. On April 16, the CITIC Construction Investment Research report pointed out that the current lithium industry chain removes inventory from the bottom up. Inventory has changed from last year's marginal demand to the current marginal supply, resulting in monthly oversupply, but the contradiction of lithium ore oversupply is not significant throughout the year, with only a small surplus. The more prominent the surplus in the first half of the year, the greater the risk of monthly level shortage in the second half of the year. At present, the price of battery-grade lithium carbonate has fallen below 200000 yuan / ton, which has caused losses in some lithium salt processing plants with purchased ores, and the bottom cost support has gradually emerged. Lithium salt enterprises have reduced production and the monthly output has declined continuously. The continued decline in prices may lead to the reduction and expansion of lithium salt plants and the postponement of production in some high-cost mines, forming cost support. It is expected that the decline in lithium salt prices is coming to an end, so it is suggested that attention should be paid to the bottom layout opportunities.