Lithium Prices Jump 9% in China After Ganfeng Forecasts 30–40% Demand Surge for 2026
China’s lithium market surged on Monday after Li Liangbin, chairman of major producer Ganfeng Lithium Group Co., predicted that demand for the key battery metal could grow by 30% to 40% in 2026.
Following his remarks, the most-traded lithium carbonate contract on the Guangzhou Futures Exchange jumped 9%, closing near its daily upper limit at 95,200 yuan ($13,401.28) per metric ton—the highest level since June 2024.
The rally was sparked after Chinese financial media outlet Cailian reported Li’s comments from a recent industry conference. According to Li, accelerating demand could push lithium carbonate prices to 150,000 yuan per ton, and potentially even 200,000 yuan.
Market Momentum Builds on Strong Demand Outlook
Lithium carbonate prices have been rising steadily in China, climbing more than 17% this month alone. Investors are positioning for strong growth driven by the energy-storage sector, which continues to expand as China accelerates its transition to renewable energy and grid-scale storage technologies.
Supply Constraints Add Fuel to the Rally
Supply concerns are also supporting the price surge. The reopening of CATL’s flagship Jianxiawo lithium mine in Yichun, Jiangxi Province, has been delayed, tightening domestic supply expectations.
Reuters previously reported that CATL has been sourcing lithium ore from external suppliers throughout November, as the Jianxiawo mine remains offline.
Lithium Stocks Rally Across China
The bullish sentiment rippled into equities:
Ganfeng Lithium shares rose 7.48%
Chengxin Lithium jumped 10.01%
Tianqi Lithium climbed 9.87%
Analysts say the combination of optimistic demand forecasts, strong energy-storage growth, and ongoing supply constraints positions lithium for further upward pressure heading into 2026.
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