Lithium Carbonate Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Lithium Carbonate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Lithium Carbonate Price Trend for the Q1 of 2024


In the first quarter of 2024, the lithium prices remained stable in China, Japan, and Korea which further influenced the stability in the pricing patterns of lithium carbonate. The weak consumer demand and limited transactions during the initial phase of the quarter in China, soured the optimism of the manufacturing as well as the trading sector, well reflected in the dim outlook of lithium carbonate prices during the first half of the quarter.

Lithium Carbonate Price Chart

Lithium Carbonate Price Trends and Forecast

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Similarly, South Korean, and East Asian traders also reported poor demand, both in battery and original equipment manufacturing sectors. However, in China and India, despite of sluggish demand for battery-grade lithium salts, the improvement in the economic growth of the region supported the stabilization of the lithium carbonate price trend. Overall, the market remained quiet, with buyers well stocked and end user industries showcasing little appetite for the compound.


Throughout the first quarter of 2024, the German market witnessed a continued decline in lithium carbonate prices due to weak support from upstream spodumene ore and other raw materials, affecting production costs. This decline was further escalated by the weak demand from downstream lithium-ion batteries and energy storage systems manufacturers. Towards the end of the quarter, the prices experienced much more steeper decline due to the influx of cheaper imports from Chile and other nations.

The market players, in the mid of the quarter, adopted a wait-and-watch approach as they eyed towards the conclusion of Lunar New Year celebrations in China. Additionally, shifts in market dynamics, such as the reduction in the traditional premium of lithium hydroxide prices over lithium carbonate prices in the Europe and global shipping disruptions eventually limited the growth momentum of the lithium carbonate market.

North America

In the first quarter of 2024, the USA's lithium carbonate attained stagnancy, showing consistent prices without any significant fluctuations. Prices have aligned with European rates and maintained a premium over CIF seaborne Asia prices. Despite the increase in new vehicle sales in the US from January to March, the battery manufacturing industries registered a dim market momentum which was well reflected in the pricing pattern of lithium carbonate.

Additionally, due to factory shutdowns, shipping delays, and a power outage in the region, the consumers were skeptical of raising their demand quotations. The trading challenges caused by low water levels in Panama Canal and reduction in the imports from Asian countries via Red Sea route further exerted a negative influence on the pricing trajectory of lithium carbonate.

Analyst Insight

According to Procurement Resource, the price trend of Lithium Carbonate is estimated to dwindle with the oscillating global trading patterns and rising skepticism among the downstream industries.

Lithium Carbonate Price Trend for the October - December of 2023


With lithium carbonate prices plummeting, the Chinese refining companies were forced to either reduce or suspend their production activities. The significant drop in battery material prices further escalated the losses for Chinese producers, which was eventually visible in the significant drop in lithium carbonate prices. Further, as the EV battery manufacturers in China held back purchases, the inventories accumulated and challenges for the lithium carbonate traders inclined.


The challenging conditions of the lithium carbonate market were not only limited to the Asian countries as the European region also faced similar struggles. The inflationary and economic challenges carried forward by the previous quarters and supply chain disruptions led to a substantial fall in trading activities. Further, in line with the Asian countries, the functioning of the downstream EV batteries sector faced an abrupt slowdown as it itself suffered from the ill consequences of the deteriorating US-China relations and enhanced dependence on Russian imports. These unfavorable dynamics of the market eventually caused the downfall of lithium carbonate prices.

North America

In Q4 of 2023, the US lithium carbonate market faced persistent weakness with declining prices attributed to South American imports and sluggish demand from electric vehicle battery manufacturers. Additionally, the increased domestic production and reduced raw material costs contribute to a rise in market pressure. Further, the overall trend of lithium carbonate prices mirrored trend in China and Europe, marked by surplus inventories and subdued downstream demand. Another factor that influenced the prices heavily was the falling prices of lithium salts, which reduced the overall manufacturing costs and, in turn, the lithium carbonate price trajectory.

Analyst Insight

According to Procurement Resource, the price trend of Lithium Carbonate are estimated to oscillate as the downstream EV sector is yet to show any positive signs in its market movements.

Lithium Carbonate Price Trend for the July-September of 2023


The Asian lithium carbonate market registered consistent depreciation during the said period of the third quarter of the year 2023. Because of its growing demand over the past year, especially from the lithium-ion battery manufacturing sector, the suppliers had started hoarding products, anticipating higher profits. However, the demands plateaued after a point and pushed the lithium carbonate market prices downhill.

The lithium carbonate prices in the Indian domestic market slid by around 10% initially from July to August and then further dropped by around 4% in the next set of months. The monthly average spot prices plunged from about 35000 USD/MT in July to around 30000 USD/MT in September’23. Overall, slumping market trend were observed for lithium carbonate throughout the said period of Q3’23.


The European lithium carbonate market also mirrored the Asian market trend as the prices kept falling throughout the given quarter here as well. Since the lithium carbonate prices had fallen in the international market the import rates subsided for Europe. Along with that, the domestic downstream consumption industries were not responding in a very favourable manner since the market queries also slumped. The existing stocks were well capable of catering to whatever demand was posed during the said time period.

North America

The North American lithium carbonate market could behave no differently than the other global markets as the prices depicted a downward wavering graph here as well. With a widened gap between the supply and demand dynamics of the region, the market prices plunged throughout the third quarter of the year 2023.

Analyst Insight

According to Procurement Resource, not much improvement is expected in the Lithium Carbonate price trend going forward. The price forecasts suggest that the prices will continue to fall for some time in the coming months as well.

Lithium Carbonate Price Trend for the First Half of 2023


The lithium carbonate market followed a bearish trend in the first quarter and during the initial phase of the second quarter of 2023. The weak demand from the downstream industries and the rising level of inventories challenged the growth of the lithium carbonate price trend.

In the second half of the second quarter, the trend reversed, and the market showed some positive movements. The inventories started to deplete as the domestic manufacturers were unable to get the raw materials, due to which the rates of production fell. In addition to this, the demand for electric vehicles and the automotive sector increased significantly during this time, leading to the rise in the price trend of lithium carbonate.


In Europe, the downfall in the price trend of lithium carbonate was a result of a number of reasons. The quotes offered by the downstream industries declined consistently during the first two quarters, and along with the rise in inflation and energy prices, the price trend of lithium carbonate struggled to maintain its momentum. The purchasing potential of domestic as well as international consumers also slumped while the supply chains worked efficiently, causing the price trend of lithium carbonate to decline.

North America

In the first two quarters, the lithium carbonate market in the US struggled with a decline in the number of new orders and a drop in competition among the EV manufacturers. Further, with the revival of the Chinese automotive and manufacturing sector after a long stretch of stagnancy, its dependency on North American imports declined, which negatively affected the lithium carbonate price trend.

Analyst Insight

According to Procurement Resource, the price trend of Lithium Carbonate is estimated to decline as the consumption rates of EV industries will likely decline in the upcoming quarters.

Lithium Carbonate Price Trend for the Second Half of 2022

Asia Pacific

The supply-demand dynamics struggled to find equilibrium in the Asian market during the third quarter of 2022. Supply from the manufacturers was not able to meet the increasing demand from the market and during the same time, some significant manufacturers temporarily restricted their production. Instead of benefiting from this disproportion, the prices plummeted in the region. Even in the fourth quarter, the market struggled to gain momentum. The price trend of Lithium carbonate was mostly affected by the subsidies on new energy vehicles.


The prices of Lithium carbonate fluctuated in the third quarter of 2022. The decline in sales, high inflation rates, and soaring energy production costs remained a challenge for the European market. The market trend of Lithium carbonate was thus, similar to that observed in the Asian-Pacific market. In the later months of the fourth quarter, the prices declined due to low demand, restricted exports, and fluctuating economic conditions. The price drop was also attributed to the drop in market competitiveness.

North America

In the third quarter, the North American region showcased a positive trajectory. This trend was supported by the consistent support of the feedstock prices and as a result, the profit margins of the producers increased. The fourth quarter did not follow the trend of the third quarter. The decline in the prices was due to a rise in inventories, weak market sentiments, and a drop in the growth of the electric vehicles market. The battery manufacturing industries were also not able to increase their supply and thus the price trend of Lithium carbonate took a dip in the fourth quarter.

Analyst Insight

The prices of Lithium Carbonate are estimated to decrease in the upcoming quarter. The decline in the growth of the electric vehicle sector, uncertainties in the market, and low demand from the end-user industries will play a major role in deciding the price trend of Lithium Carbonate.

Lithium Carbonate Price Trend for the First Half of 2022


The price trend for Lithium Carbonate kept strong during the first quarter owing to the limited inventory and high downstream demand. The downstream lithium hydroxide market was on the rise owing to the strong cost support. The second quarter continued with positive price trend. However, the prices fell slightly mid-quarter as the demand side was impacted owing to epidemic restrictions. Also, the acceptance of high-priced lithium salts was low.


Lithium carbonate prices surged throughout the first quarter owing to robust demand from the downstream sectors. With the manufacturers restricting activities with the Russian suppliers, the feedstock prices soared. The situation worsened with the Russian invasion of Ukraine, triggering an energy crisis and high-cost inflation. The prices dwindled but recovered soon as the demand surpassed the supply.

North America

Similar price trend were seen in the US domestic market. The prices kept high owing to solid demand amid labour shortages, power consumption restrictions, high feedstock prices, supply shortages and inflationary pricing. With the world switching to greener methods a massive surge in the market was created to acquire lithium carbonate manufacturing processes/facilities, thus driving the prices further.

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Lithium Carbonate is an inorganic salt heavily used in the production of metal oxides. It is a potent irritant when mixed with water. It is an essential medicine as it is used in the treatment of mood disorders. It is widely used in the manufacturing of lithium-ion batteries.

Product Details

Report Features Details
Product Name Lithium Carbonate
HS CODE 283691
CAS Number 554132
Chemical Formula Li2CO3
Synonyms Carbonic Acid lLithium Salt, Dilithium Carbonate
Molecular Weight 73.89 g/mol
Supplier Database Tianqi Lithium, Targray
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

Lithium carbonate is manufactured via brine. The impurities such as boron and magnesium is removed from the brine which is then precipitated by adding sodium carbonate. The precipitate obtained is subjected to purification process thereby giving lithium carbonate.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e., government agencies, external trade bodies, and industry publications).

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