Lithium carbonate prices in China moved sideways at 477,500 yuan/tonne in the second half of June, remaining near the record-high of 500,000 from March amid industry incentives in the EV sector and low supply levels.
Local Chinese governments, including Beijing, Shanghai, and Wuhan, announced cash subsidies for customers replacing petrol cars with new EV purchases. The measures were placed to revamp activity in the sector after demand for durable goods plummeted during the strict Covid lockdowns, in addition to contributing to China’s goal of cutting carbon emissions.
Carbonate prices remain over 430% higher year-on-year, as the metal's supply struggles to meet surging demand for goods with lithium batteries.
Early estimates from the Shanghai Metals Market pointed to a 17% monthly demand increase from battery manufacturers in June, as Chinese industries ramp up capacity, while lithium carbonate production levels were similar to those seen in May.
https://tradingeconomics.com/commodity/lithium
2022 Charts, page-1387
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