Lithium carbonate prices in China were at 477,500 yuan/tonne in June, above the three-month lows of 457,700 that held through May amid a rebound in demand projections as strict Covid lockdowns in Shanghai were relaxed. As cases were seen lower in major Chinese cities, investors ramped up bets that electric vehicle manufacturers will return to increased capacity after lockdowns halted auto production during April, as lower demand during the period saw new energy passenger vehicles plummet 40% when compared to March. Despite the blip during the start of Q2, carbonate prices remain nearly 70% higher year-to-date on the back of a global effort to reduce carbon emissions, while gasoline prices are at all-time highs. To match the soaring trend in the industry, Beijing called for an increase in output from lithium smelters and miners to relieve the rally that saw prices reach record-highs of 497,500 in March. Historically, Lithium reached an all time high of 500000 in March of 2022. Trading Economics provides Lithium pricing based on spot prices for Lithium Carbonate, 99.5% Li2CO3 min, battery grade, traded in China. Lithium is a silver-white light metal. Lithium hydroxide is used in batteries for electrical vehicles and mobile phones. Lithium hydroxide is produced from a chemical reaction between lithium carbonate and calcium hydroxide. The biggest lithium producers are Chile, China, Australia and Argentina. The largest lithium importers are China, Japan, South Korea and the United States.

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