[SMM New Energy] Ganfeng Lithium's Li Liangbin: If Lithium Carbonate Demand Growth Exceeds 30% Next Year, Prices May Surpass 150,000 yuan/mt

Published: Nov 19, 2025 13:39

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At the "10th International Summit on Power Battery Applications (CBIS2025)", Li Liangbin, Chairman of Ganfeng Lithium, stated that global lithium carbonate demand in 2025 is 1.45 million mt. However, due to demand growth in H2, the full-year demand figure is expected to be revised upward to 1.55 million mt. Meanwhile, supply capability exceeds 1.7 million mt, resulting in a surplus of approximately 200,000 mt, which has kept prices relatively low this year. He predicts that lithium carbonate demand will grow by 30% in 2026, reaching 1.9 million mt, while supply capability is projected to increase by about 250,000 mt after assessment, leading to a basically balanced supply-demand situation and potential for lithium carbonate prices to rise. If demand growth next year exceeds 30%, or even reaches 40%, supply will be unable to balance in the short term, and prices may break through 150,000 yuan/mt or even 200,000 yuan/mt.

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