The Lithium Branch of the China Nonferrous Metals Industry Association released the operating situation of the lithium industry for November 2025. In November, the price of lithium carbonate futures gradually rose, with volatility gradually increasing. The performance of lithium companies in their Q3 financial reports showed improvement, and market expectations for future lithium prices are optimistic. On the supply side, market inventories accelerated their decline, news about the lithium mine owned by CATL continued to cause disturbances, lithium salt production slightly decreased, spodumene-based lithium extraction production slightly increased, and lepidolite-based lithium extraction production slightly decreased. On the demand side, new energy vehicle sales surged ahead of subsidy reductions, and energy storage performed remarkably well.