Why the price of lithium batteries is soaring

Why the price of lithium batteries is soaring

Promote by various favorable policies, new energy vehicle manufacturers continue to exert their efforts, and the global market ushered in a new round of development opportunities, which also caused the price of raw materials for making lithium batteries such as lithium carbonate to continue to rise. Although the related production capacity has been greatly increased in recent years, it still cannot meet the demand.

Lithium carbonate is one of the necessary raw materials for the production of lithium batteries. As of March 12, the average domestic market price of battery-grade lithium carbonate was 83,500 yuan per ton, which increased by 6,000 yuan per ton in one week, and was spot-on within four months. The price has doubled.

New Energy Research Director of Shanghai Nonferrous Networks: From the perspective of supply, tight ore resources are also one of the main factors leading to the rise in lithium prices this time. On the one hand, the cause of the epidemic was restricted by overseas parties; on the other hand, the price of ore in the past few years was relatively low, which led to some bankruptcies and production suspensions in overseas mines. From the beginning of 2021 to the present, the overall supply and demand gap is about 20% to 25%.

All the lithium manufacturer adjust the price from Feb.2021 ,and the delivery date is longer than normal .