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Lithium Carbonate Expansion "In Progress"

Lithium Carbonate Expansion "In Progress"

Market data shows that as of May 18, the average price of battery-grade lithium carbonate was 89,000 yuan/ton, a surge of 134% from last year's low of 38,000 yuan/ton. The average price of battery-grade lithium hydroxide rose from 60,000 yuan/ton to 87,500 yuan/ton

The driving factors supporting the upward price of lithium carbonate are generally believed in the industry to include two aspects: First, the downstream to the terminal is fully produced and sold, and raw material stocking is strengthening. Second, the supply pattern of lithium concentrates is highly concentrated, and the progress of superimposed global salt lakes is slower than expected, and domestic lithium salt plants have rigid demand for raw materials.

Based on this, lithium salt companies including Yongxing Materials, Lanke Lithium, China Mineral Resources, Tianqi Lithium, Ganfeng Lithium, Shengxin Lithium Energy, and Zhiyuan Lithium have plans to expand their production. Or accelerate the release of new lithium salt production capacity.

In addition, in order to ensure a stable supply of battery raw materials and reduce costs, domestic and foreign head power battery companies and OEMs have also deepened the upstream material layout through cooperation models such as self-investment, mergers and acquisitions, and long-term order lock-in.

Companies including CATL, BYD, Guoxuan Hi-Tech, LG Energy, Tesla, BMW and other companies have already participated in the upstream lithium resource blocking battle. It is expected that more battery companies and OEMs will join in the later period.

In the next five years, electric vehicles will continue to grow at a high speed, while considering other lithium carbonate application scenarios such as energy storage, 3C consumer electronics and traditional industries, it is estimated that the global demand for lithium carbonate will total 1.24 million tons in 2025.


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