Lithium carbonate prices held at the CNY 100,000 per tonne mark...

Lithium carbonate prices held at the CNY 100,000 per tonne mark in June, trading in a tight range since dropping to two-year lows in December 2023 as the ongoing surplus of raw materials for electric vehicle battery manufacturers continued to dictate low prices across the sector. Lithium miners and producers continued to expand capacity and hunt for new reserves, magnifying expectations of oversupply amid the fallout of battery gluts due to government subsidies for firms across the supply chain. Additionally, hopes of eventual balance in the market drove Chile to signal it would aim to double output over the next decade. Further adding to the bearish pressure, the EU announced plans to hit Chinese EV producers with tariffs of up to 38% in response to subsidies-supported dumping. The measures added to sweeping tariffs from the US, which quadrupled duties on Chinese EVs to 100%, pushing against input materials for battery producers.

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