Lithium Carbonate Prices Expected to Fall in H2 2023

SHANGHAI, Feb 17 (SMM) - Ouyang Minggao, academician of the Chinese Academy of Sciences and vice chairman of the China EV 100, said today that domestic shipments of lithium-ion batteries in 2023 will be about 1 billion kilowatt hours, citing a sharp decline in its growth rate. The reason behind is the lower growth rate of new energy vehicle sales and the falling demand for power batteries in some PHEV with lower charge capacity.

Ouyang also suggested that this will ease the pressure on the demand for lithium-ion batteries. According to him, lithium carbonate prices are expected to fall to 350,000 to 400,000 yuan/mt in the second half of this year. While to ensure the development of the battery recycling sector, a more reasonable price range will be 300,000 to 400,000 yuan/mt.