Lithium carbonate prices in China climbed to CNY 173,000 per tonne in April, the highest level in three months and nearly 50% higher year-to-date, amid signs of strengthening long‑term demand. The sharp rise in crude oil and refined product prices since early March has bolstered expectations that major economies will accelerate the shift toward new energy vehicles, whose batteries rely heavily on lithium.
In the automotive sector, BYD raised its overseas sales forecast for this year to 1.5 million units, up from a January projection of 1.3 million, underscoring robust demand for electric vehicles. Domestic demand has also been shored up by continued Chinese investment in power infrastructure. Beijing recently announced plans to double the country’s EV charging capacity to 180 gigawatts by 2027, further entrenching lithium’s role in the energy transition.
Additional support for lithium demand is emerging from data center operators. Their large‑scale power storage systems typically require more lithium than those used in EVs, reflecting the surge in capital expenditure from AI companies and hardware manufacturers building out energy‑intensive computing infrastructure.
