Lithium prices are spiraling down toward the lowest level in two years on concerns over the strength of Chinese demand.
Lithium prices are spiraling down toward the lowest level in two years on concerns over the strength of Chinese demand for the material.
The slump has hammered lithium producers too, with the Sprott Lithium Miners ETF tumbling to the weakest since its inception in February, and Global X Lithium & Battery Tech ETF plunging to the lowest since 2020. But this year, that hasn’t happened. Sizable restocking has yet to materialize, said Susan Zou, an analyst with researcher Rystad Energy. Battery makers still have plenty of inventory to draw down, she said.
In China, carmakers are struggling to defend their market share amid economic uncertainty. EV sales growth in the Asian nation slowed to 37% in the second quarter from a year earlier, versus a global average of 50%, according to consultancy Counterpoint Research.
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Slumping lithium prices signal angst over China’s demand outlookLithium prices are spiraling down toward the lowest level in two years on concerns over the strength of Chinese demand for the material, a key ingredient in electric vehicle batteries. Prices of lithium carbonate in China fell to 166 500 yuan ($22 814) a ton last Wednesday, ahead of the Golden Week holidays, a loss of almost half from the recent peak in early June. The decline has been precipitous. Less than a year ago, the metal reached a record of 598 000 yuan a ton.
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