Lithium carbonate prices rose above the CNY 315,000 per tonne level in June, the highest in three months to extend the rebound from the 19-month low of CNY 165,500 at the end of April amid robust demand for battery inputs. The latest data showed that NEV sales in China jumped by 60% year-on-year in May, extending the 110% surge in April and marking nearly one-third of the market share, erasing concerns about poor demand levels at the start of the year. During the first quarter, the drop in demand coincided with a significant oversupply of batteries. Producers took advantage of final inflows of government subsidies and ramped up production until the end of 2022, creating unsustainably high inventory levels.....
