China’s lithium chemical output jumped in 2023, industry association data showed on Thursday, as producers ramped up production to meet growing demand for the battery material.
The world’s top lithium chemical producer made 517,900 metric tons of lithium carbonate last year, up 31.1% from 2022, according to a post by the lithium branch of the China Nonferrous Metals Industry Association.
Production capacity of lithium carbonate reached 1.1 million tons last year, up 83.3% on the year.
Demand for the metal has been boosted by the energy vehicle and energy storage sectors, the two main consumers of lithium.
However, higher output weighed on lithium prices, with spot lithium carbonate in China falling more than 80% over the previous year.
The country’s lithium hydroxide output rose 30.1% to 319,600 metric tons, the data also showed.
