Zimbabwe Halts Lithium Exports, Driving China Lithium Carbonate Prices Higher Amid Energy Storage Demand
China’s lithium prices jumped sharply on Thursday after Zimbabwe suspended exports of all raw minerals and lithium concentrates, raising concerns about potential supply disruptions amid booming energy storage demand.
The most actively traded lithium carbonate contract on the Guangzhou Futures Exchange surged 6.07% to 178,020 yuan ($26,043.45) per metric ton as of 03:30 GMT, after earlier spiking over 9% to 187,700 yuan.
Zimbabwe, Africa’s largest lithium producer, exported 1.128 million tons of spodumene concentrate in 2025 an 11% increase from the previous year with the majority shipped to China.
Chinese mining companies, including Zhejiang Huayou Cobalt and Sinomine, have made substantial investments in Zimbabwe’s lithium sector in recent years.
The sudden export suspension has heightened concerns about raw material supply stability, at a time when expectations for rapid growth in energy storage systems have fueled a strong rally in lithium prices since the second half of 2025.
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