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Lithium carbonate prices in China rose to CNY 173,000 per tonne April, the highest in three months and nearly 50% up year-to-date amid evidence of growing long-term demand. The surge in crude oil and product prices since the start of March supported the outlook for larger economies to favor new energy vehicles, which use batteries that take lithium as a major input. Likewise, BYD forecasted it will sell 1.5 million units overseas this year, revised higher from the January estimate of 1.3 million units. Demand also remained supported by Chinese investment in power infrastructure, recently consolidated with Beijing stating it would double national EV charging capacity to 180 gigawatts by 2027. Fresh buying is also featured from data center operators, whose power storage systems require more lithium than those used by EVs, on the historical capital investments by AI companies and hardware producers.
