Lithium Resource Supply Likely to Amount to 1.21 Mt LCE by 2023!

Published: Feb 3, 2023 10:07

Source: SMM

Save

In 2023, it is estimated that the global supply of lithium resources will reach about 1.21 million mt LCE in 2023, a year-on-year increase of 45%.

SHANGHAI, Feb 3 (SMM) - In 2022, the price of lithium salts soared throughout the year. The core reason behind is that the release of lithium resources has failed to meet the drastic growth of downstream demand. Looking back on 2022, Australia, the main producer of spodumene, still took the lead in terms of lithium supply. Although China is in the stage of rapid development of lepidolite production, the commissioning of most projects is scheduled in 2023 and 2023. Chile, on the other hand, benefited from the stable expansion of brine lake projects in 2022, and surpassed China and became the second largest lithium supplier.

In 2023, it is estimated that the global supply of lithium resources will reach about 1.21 million mt LCE in 2023, a year-on-year increase of 45%. According to the type of raw materials, lithium supply from spodumene, brine lakes, and lepidolite is expected to increase by 140,000 mt LCE, 80,000 mt LCE, and 110,000 mt LCE respectively. Specifically, spodumene will be the greatest contributor to supply growth, while lepidolite will post the largest YoY growth rate. Based on the project categories, most of the additional supply in 2022 came from the expansion or resumption of existing projects, while the greenfield projects will start to play a role in 2023 apart from the ramp-up of producing projects.

Looking ahead to 2023, most of the projects will be put into production in the middle of the year and the second half, and start to yield output in the second half. The projects that are worth attention mainly include:

2023H1:

Domestic projects

Lepidolite: Jianxiawo, Shuinanduan, Jiabusi tantalum-niobium mine

Brine lake: Baqiancuo

Spodumene: Lijiagou, Xinjiang Zhicun

Overseas projects:

Spodumene: Sabixing Mine, Bald Hill, Arcadia, Grota do Cirilo, Greenbushes, Mt Marion, Wodgina

Brine lake: SDLA，Cauchari-Olaroz， Olaroz，Hombre Muerto

2023H2:

Domestic projects

Lepidolite: Huashan Porcelain Mine, Huaqiao Dagang Porcelain Clay Mine, BYD

Overseas projects:

Spodumene: Bikita, Goulamina, Pilgangoora -Pilgan Plant

Market Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

15 hours ago

In January, national passenger car producers' new energy wholesale estimates reached 900,000 units, up 1% YoY.

According to the latest data from the Passenger Car Association, in December 2025, producers with new energy wholesale sales exceeding 10,000 units accounted for 93% of the total wholesale sales of passenger NEVs that month. Based on preliminary January data, these producers achieved sales of 830,000 units in January. As most producers have already locked in their major sales figures, by applying the structural proportion from the previous month to the current month's data, the estimated wholesale sales of passenger NEVs nationwide in January were 900,000 units. According to comprehensive preliminary monthly association data: the estimated wholesale sales of NEVs by national passenger car producers in January 2026 were 900,000 units, up 1% YoY.

15 hours ago

CAAM: In 2025, 476,000 complete vehicles were imported, down 32.4% YoY.

据中国汽车工业协会整理的海关总署数据显示，2025年12月，汽车整车进口3.0万辆，环比下降30.4%，同比下降56.1%；进口金额14.7亿美元，环比下降23.6%，同比下降52.5%。2025年，汽车整车进口47.6万辆，同比下降32.4%；进口金额236.4亿美元，同比下降39.7%。

15 hours ago

Canada Announces New EV Strategy, to Collaborate with China

According to CCTV News, on February 5, Canadian Prime Minister Mark Carney announced a new electric vehicle strategy, including the reinstatement of car purchase subsidies, and stated that Canada will cooperate with China to promote the local production and export of EVs in Canada. According to a statement released by the Prime Minister's Office of Canada, the country will make full use of existing and newly established trade agreements, including a recently reached EV cooperation agreement with China, to facilitate large-scale investment in this sector, diversify Canada’s automotive export markets, and position Canada as one of the global leaders in the electric vehicle industry.

15 hours ago