Texas, USA: By the end of July xxxx, Lithium Carbonate prices experienced a downward trend week-on-week due to abundant supply, lackluster electric vehicle sales, and a stagnant energy storage sector. Demand for lithium has weakened in key markets like the USA, Europe, and China. Factors such as inflation, high interest rates, range anxiety, insufficient charging infrastructure, and limited product options have dampened global expectations for EV sales, particularly in the U.S. and Europe. The increasing supply of spodumene from Africa is adding additional pressure to the lithium market. Several major Chinese lithium Carbonate producers, including Huayou Cobalt, Chengxin Lithium, Yahua Lithium, and Sinomine, have launched vertically integrated lithium mining projects in Zimbabwe.
In recent years, Lithium Carbonate producers have rapidly expanded capacity and sought new reserves, raising expectations of oversupply due to battery gluts fueled by government subsidies. Additionally, Chile, the...
