SHANGHAI, Mar 28 - Ouyang Minggao, vice chairman of the China EV 100 and academician of the Chinese Academy of Sciences, said at the 8th China EV 100 Forum that the current round of power battery material prices rose for basically the same reasons as the lithium resource price hikes in 2016-2018. Compared to the previous round of volatility, the stronger demand and expected faster growth, coupled with the impact of the pandemic, has created greater price volatility.

It is expected that the supply and demand balance for lithium resources is likely to return to normal in 2-3 years. However, considering the deteriorating global trade environment and the nickel price speculation brought about by the Russia-Ukraine conflicts, and in order to ensure supply security, government departments should introduce relevant policies and take tough measures to combat hoarding and curb short-term large price fluctuations, otherwise it will have a significant adverse impact on the development of electric vehicles.