Lithium carbonate prices slipped to CNY 151,000 in July, their lowest level in nearly four months, as expectations of increased global supply weighed on the market. CATL’s Jianxiawo mine—one of the largest in the world—received the necessary safety approvals to resume operations after an extended shutdown. In addition, the rise in lithium prices earlier in the year prompted Australian miners to bring capacity back online. Mineral Resources will restart production at its Bald Hill lithium mine after an 18‑month suspension, while Core Lithium has resumed work at its Finniss project, helping offset supply shortfalls elsewhere.
At the same time, industry reports in China indicate that intense competition among EV battery manufacturers to defend market share is pushing companies to ramp up production schedules, thereby increasing their lithium procurement. Further bolstering demand, rapid growth in energy storage systems is driving additional lithium consumption, even as EV orders in China begin to soften.
