Huatai Securities: Global Lithium Carbonate to Remain in Tight Balance by 2026

According to a research report by Huatai Securities, lithium prices have recently been weak and volatile due to liquidity tightening and reduced market risk appetite triggered by tensions in the Middle East. However, looking ahead to the second half of the year, supply disruptions remain a risk in regions such as Yichun in China and Zimbabwe overseas. Coupled with strong demand for electric vehicles and energy storage supported by high oil prices, the lithium market could face tightening supply-demand conditions. Under a neutral scenario—assuming global new energy vehicle sales grow by 10%–15% year-over-year in 2026 and energy storage cell shipments increase by 50%–60%—the global lithium carbonate market is expected to maintain a tight supply-demand balance.