Lithium price climbs to a two-year high
Istanbul, Jan. 13 (Hibya) – Lithium carbonate futures surpassed $20,000 per ton in January, rising by about 30 percent since the beginning of the year and reaching their highest level in two years.
The increase came as strong demand for energy storage driven by electric vehicles coincided with expectations of limited supply. Lithium-ion batteries, with their low weight, high energy density and long lifespan, have become an ideal choice for electric vehicles.
China’s ambitious investments in energy and data center infrastructure, combined with statements on increasing energy storage spending, supported expectations for lithium and other battery metals.
In addition, Beijing announced it will increase electric vehicle charging capacity to 180 gigawatts by 2027, supporting lithium-rich energy storage systems.
Alongside domestic spending, overseas sales of storage systems by Chinese companies rose to $66 billion in the first 10 months of the year, surpassing $54 billion in revenue from electric vehicle exports.
Meanwhile, authorities said that as part of Beijing’s anti-involution campaign, 27 mining licenses were revoked at the lithium hub in Jiangxi, in line with the earlier suspension of CATL’s operations at the Jianxiawo lithium mine.
British News Agency
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