European lithium carbonate prices increased significantly in December 2025, indicated by a rise in DDP prices for Antwerp. This increase represented a stark contrast to the oversupply and weak periods earlier in the year, with increased demand, decreased supply availability, and rising logistics costs changing market attitudes. At the end of the year, the supply situation improved following curtailed production from higher-cost global suppliers and the decline of steady inventory across Europe. Along with these developments was the growth of registrations for Electric Vehicles (EVs) in Europe, approximately 12% to 14% during 2025, which increased demand for EV batteries and, therefore, for lithium carbonate. Increased demand for lithium carbonate resulted in battery manufacturers purchasing lithium carbonate on the spot market, particularly Lithium Iron Phosphate (LFP) chemistries. In addition to increased demand for lithium carbonate from EVs, the expanding global energy storage market continued to create additional demand for lithium. The energy storage market experienced a growing interest throughout 2025, with Energy Storage systems deployed globally increasing by over 70%, which also contributed to increased consumption of lithium.
