Zimbabwe Halts Lithium Exports, Sending Global Prices Soaring

In February 2026, lithium carbonate futures prices in China experienced sharp volatility, surging over 35% within the month and nearing RMB 190,000 per ton on the 26th, following Zimbabwe’s sudden announcement suspending all exports of raw ores and lithium concentrates. As Africa’s largest and the world’s fourth-largest lithium supplier, Zimbabwe’s move directly tightened global lithium ore supply. Combined with strong post-holiday demand from downstream energy storage and electric vehicle battery sectors, as well as slower-than-expected production ramp-up at domestic lithium salt producers, these factors propelled lithium prices into a new pricing cycle characterized by “tightened supply, cost support, and geopolitical disruptions.” Industry experts emphasized that companies must respond rationally to price hikes, strengthen supply chain security, accelerate investments in owned lithium resources, brine-based lithium extraction, and recycling systems, and reduce external dependency through alternative technologies such as sodium-ion batteries. This incident underscores the urgent need to enhance supply chain resilience and technological innovation capabilities.