Lithium carbonate prices in China were at 475,500 yuan/tonne in late June, remaining near the record-high of 500,000 from March amid industry incentives in the EV sector and low supply levels. Local Chinese governments, including Beijing, Shanghai, and Wuhan, announced cash subsidies for customers replacing petrol cars with new EV purchases. The measures were placed to revamp activity in the sector after demand for durable goods plummeted during the strict Covid lockdowns, in addition to contributing to China’s goal of cutting carbon emissions. Carbonate prices remain over 430% higher year-on-year, as the metal's supply struggles to meet surging demand for goods with lithium batteries. Early estimates from the Shanghai Metals Market pointed to a 17% monthly demand increase from battery manufacturers in June, as Chinese industries ramp up capacity, while lithium carbonate production levels were similar to those seen in May.
Historically, Lithium reached an all time high of 500000 in March of 2022. Lithium - data, forecasts, historical chart - was last updated on July of 2022.
Lithium is expected to trade at 491061.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 505004.00 in 12 months time.