Dec. 5 at 3:40 PM
$LITOF Lithium Rises to 18-Month High
Lithium carbonate futures in China rose past CNY 94,000 per tonne in December, the highest in 18 months, amid the improved outlook for battery infrastructure demand.
Top lithium consumer China stated it would double EV charging capacity to 180 gigawatts by 2027, supporting lithium-rich energy storage systems with compensation mechanisms for power storage infrastructure.
Also, output of new energy vehicles in China rose by 33.1% in the first ten months of the year, with October sales reflecting 51.6% of the market share, the first majority for new energy vehicles on record.
Consequently, major producer Ganfeng signaled they expect lithium demand to grow by 30% next year.