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How has Australia impacted the lithium carbonate market?

The increased Australian production, which altered supply routes, combined with a slower than anticipated growth in global EV sales and changes in Chinese policy, have combined to boost demand and liquidity in the lithium carbonate market, altering the price relationship between the products.

How will lithium carbonate price change in 2023?

By then, the total production output of lithium carbonate will reach 1,323,000 MT, while demand sits at 1,189,000 MT of LCE, indicating a 10% excess supply. Against this backdrop, spot lithium carbonate prices will be pressed downward from RMB 166,500/MT on September 27, 2023 to RMB 110,000/MT in the same month of 2024.

Will China oversupply lithium carbonate in Africa in 2024?

Chinese producers ramp up projects in Africa, bearing out an oversupply in 2024. By then, the total production output of lithium carbonate will reach 1,323,000 MT, while demand sits at 1,189,000 MT of LCE, indicating a 10% excess supply.

Why are Chinese lithium carbonate spot prices rising?

Chinese lithium carbonate spot prices have rallied around 8% since late October and are now at a three-month high, while futures on the Guangzhou exchange have jumped 13% so far this week. An expansion in Chinese subsidies encouraging people to trade in older cars has aided the nascent rebound in the metal that’s crucial to the energy transition.

Is China rushing to export lithium carbonate in November?

“Demand for lithium carbonate in November has been stronger than market expectations for a typically slow year-end season,” said Zhang Weixin, an analyst at China Futures Co. The Chinese subsidies have been a positive stimulus and battery makers may be rushing to export before the imposition of trade barriers, he said.

Why are lithium batteries so expensive?

A key driver for lithium chemical demand and prices is the changing fortunes of different battery compositions. Lithium iron phosphate (LFP) chemistry has always been cheaper versus nickel manganese cobalt oxide (NCM) and lithium nickel cobalt aluminum oxide (NCA), which require expensive nickel and cobalt.

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