Lithium carbonate prices in China climbed to CNY 169,000 per tonne from a near two‑month low of CNY 163,000, as seasonal inventory rebuilding prompted consumers to increase their bids. However, futures remain well below the two‑and‑a‑half‑year high of CNY 200,000 reached in mid‑May, reflecting easing supply concerns and signs of weakening demand.
On the supply side, Mineral Resources is restarting its Bald Hill lithium mine after an 18‑month suspension, and Core Lithium has resumed operations at its Finniss project, helping to offset shortages in other regions. In Zimbabwe, authorities have introduced export quotas on lithium concentrates and announced a full export ban starting next year, with exports allowed only for processed lithium in a bid to encourage local value‑added processing.
Meanwhile, new data on electric vehicle demand were mixed. Sales of new energy vehicles in China fell 7.5% year‑on‑year to 950,000 units in May, but the sector’s market share increased to 62.9% over the same period.
