BUSINESS

Lithium Prices Poised for Volatile 2026 Rise as Supply Tightens, Storage Demand Surges

Published: Apr. 23, 2026 9:47 p.m. GMT+8

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A dump truck operates at a lithium mining site in the Sandawana area of Mberengwa, Zimbabwe. Photo: IC

Global lithium prices are poised for a volatile upward trend in 2026, driven by surging demand for energy storage systems and supply disruptions in major producing regions like Zimbabwe and China.

On Thursday, China's main domestic lithium carbonate futures contract closed at 174,000 yuan ($25,466) a ton, up about 32% since the beginning of the year after geopolitical tensions and trade policy shifts triggered earlier waves of volatility.

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China's lithium carbonate futures closed at 174,000 yuan/ton ($25,466), up 32% YTD amid volatility from trade shifts and Zimbabwe export ban.
Zimbabwe (28,000t output in 2025, 10% global) suspended exports Feb. 25; Chinese firms secured 6-month quotas.
Argus forecasts 2026 LCE deficit: 10,000t optimistic (supply 2.268Mt, demand 2.278Mt) or 6,000t conservative, driving prices upward.

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Who’s Who

Zhejiang Huayou Cobalt Industry Co. Ltd.: Zhejiang Huayou Cobalt Industry Co. Ltd., with mining projects in Zimbabwe, recently secured a six-month export quota for lithium concentrate. President Chen Hongliang stated during a Monday earnings call that shipping products to China takes about three months after export procedures.

Chengxin Lithium Group Co. Ltd.: Chengxin Lithium Group Co. Ltd., a Chinese firm with mining projects in Zimbabwe, has recently secured a six-month export quota for lithium products amid Zimbabwe's export suspension.

Sichuan Yahua Industrial Group Co. Ltd.: Sichuan Yahua Industrial Group Co. Ltd. has mining projects in Zimbabwe and recently secured a six-month export quota for lithium concentrate.

Sinomine Resource Group Co. Ltd.: Sinomine Resource Group Co. Ltd. is a Chinese company with lithium mining projects in Zimbabwe that has recently secured a six-month export quota for lithium concentrate.

Tsingshan Holding Group Co. Ltd.: Tsingshan Holding Group Co. Ltd., a Chinese firm with mining projects in Zimbabwe, has secured a six-month export quota for lithium concentrate amid the country's suspension of raw ore exports.

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