According to the Commodity Market Analysis System of Shengyi Society, the price of lithium carbonate has continued to rise recently. As of December 15th, the benchmark price of Shengyi Society’s battery grade lithium carbonate was 96233 yuan/ton, an increase of 4% compared to the same period last week (December 8th), a month on month increase of 12.29%, and a year-on-year increase of 19.69%; The benchmark price of industrial grade lithium carbonate is 94533 yuan/ton, an increase of 4.07% compared to the same period last week, a month on month increase of 12.63%, and a year-on-year increase of 21.2%.
Supporting factors for price increase
1. The demand side continues to explode
The explosive growth of energy storage demand has become the core demand pillar, and the order schedule has been extended to 2026, effectively filling the seasonal decline gap in demand for new energy vehicles. In November, the total production of domestic power batteries and energy storage batteries was 176.3 GWh, an increase of 3.3% compared to the previous month.
2. Supply side contraction
Although there was a slight increase in lithium carbonate production in November, with the gradual production of some new production lines, it is expected that domestic lithium carbonate production will increase by about 3% month on month in December, and supply will steadily release. However, the tight supply situation in the lithium mining sector has not improved. Market reports indicate that there is a shortage of mines in Yichun area, and there is no hope for Ningde Times’ Jianxiawo lithium mine to resume production within this year. In the short term, the supply gap is difficult to fill.
3. The trend of destocking continues
According to market data, lithium carbonate inventory decreased at a rate of 3000 tons per week in the fourth quarter, and the trend of destocking supported the upward shift of the price center.
The data analyst of Shengyi Society believes that the explosive growth of downstream energy storage of lithium carbonate is difficult to reverse in the short term due to the mismatch between supply and demand. Continuous destocking supports price increases and will continue to fluctuate in the short term. Specific attention still needs to be paid to changes in market supply and demand and the progress of mining resumption.
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