Wedoany.com Report-Nov. 18, China’s lithium carbonate futures price surged on Monday following an optimistic demand outlook presented by Li Liangbin, Chairman of Ganfeng Lithium Group Co.

The most-active contract on the Guangzhou Futures Exchange climbed 9 per cent to 95,200 yuan ($13,401) per metric ton, approaching the daily upper limit and reaching the highest level since June 2024.

The sharp increase followed reports of Li Liangbin’s remarks at a recent industry conference. He projected that lithium demand in China could grow by 30 per cent to 40 per cent in 2026.

Li Liangbin further indicated that sustained strong demand may push lithium carbonate prices above 150,000 yuan per ton, with potential to reach 200,000 yuan under favourable conditions.

Domestic lithium carbonate prices have recorded a gain of more than 17 per cent so far this month, supported by expectations of robust expansion in the energy storage sector.

Market sentiment has also been bolstered by ongoing supply constraints. The restart of CATL’s key Jianxiawo lithium mine in Yichun, Jiangxi Province, has faced delays, prompting the company to continue sourcing lithium ore from external suppliers for its carbonate production in November.

Major Chinese lithium producers recorded strong gains on the stock market on Monday. Shares of Ganfeng Lithium rose 7.48 per cent, Chengxin Lithium advanced 10.01 per cent, and Tianqi Lithium increased 9.87 per cent.

The price recovery reflects growing investor confidence in the medium-term fundamentals of the lithium market, driven primarily by accelerating requirements from battery manufacturing and energy storage applications.