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IPC Index — Mexico MarketLithium carbonate futures in China soared past CNY 138,000 per tonne in January, the highest in over two years, as strong demand magnified the outlook of capped supply. Ambitious bets in power and datacenter infrastructure by the Chinese government was combined with the announcement of higher power storage spending, supporting the outlook for lithium and other battery metals. This was combined with Beijing stating it would double EV charging capacity to 180 gigawatts by 2027, supporting lithium-rich energy storage systems. Besides domestic expenditure, foreign storage system sales from Chinese companies rose to $66 billion in the first 10 months of the year, overtaking $54 billion from electric vehicle exports. Meanwhile, authorities stated 27 mining permits were canceled in the lithium hub of Jiangxi, aligned with the earlier suspension of activity in CATL’s Jianxiawo lithium mine amid Beijing’s anti-involution campaign.
