For the Quarter Ending March 2026
Lithium Carbonate Prices in North America
- In the USA, the Lithium Carbonate Price Index rose by 75.9% quarter-over-quarter, reflecting strong restocking and constrained DDP availability.
- The average Lithium Carbonate price for the quarter was approximately USD 18351/MT on DDP USGC terms.
- Lithium Carbonate Spot Price remained volatile as import arrivals fluctuated, tightening merchant availability across Gulf Coast terminals.
- Lithium Carbonate Price Forecast signals near-term firmness with restocking and regulatory compliance supporting delivered-price strength.
- Lithium Carbonate Production Cost Trend showed upward pressure from higher utility gas charges and rising freight costs.
- Lithium Carbonate Demand Outlook remains robust as EV OEM restocking and IRA compliance sustain cathode demand.
- Lithium Carbonate Price Index weakened briefly after South American arrivals but recovered amid tariff uncertainty and reduced export allocations.
- Lithium Carbonate Price Index reflects balanced logistics constraints, inventory draws at midstream, and selective supplier volume allocation policy.
Why did the price of Lithium Carbonate change in March 2026 in North America?
- Import availability tightened as Chilean and Argentine export allocations curtailed spot cargoes, raising landed costs.
- Logistics and higher freight and insurance costs raised delivered costs, pressuring DDP values and margins.
- Strong IRA-driven OEM procurement and full-rate Gigafactory offtake intensified spot demand, tightening merchant availability significantly.
Lithium Carbonate Prices in APAC
- In Japan, the Lithium Carbonate Price Index rose by 78.62% quarter-over-quarter, driven by tight imports.
- The average Lithium Carbonate price for the quarter was approximately USD 18479.33/MT based on CIF.
- Lithium Carbonate Spot Price climbed as converters restocked; freely traded cargoes tightened and offers firmed.
- Lithium Carbonate Price Forecast indicates near-term firmness as policy incentives and restocking support higher offers.
- Lithium Carbonate Production Cost Trend is rising; freight, insurance premiums, and upstream concentrate costs increased.
- Lithium Carbonate Demand Outlook is strong as EV and cathode expansions drive procurement, inventory, and stock builds.
- Lithium Carbonate Price Index showed volatility as inventory draws and selective seller firmness tightened exports.
- Converter maintenance and Australian mine outages with logistical premiums pressured spot liquidity and raised offers.
Why did the price of Lithium Carbonate change in March 2026 in APAC?
- Chilean policy and Australian mine maintenance constrained exports, reducing feedstock availability for APAC import-dependent converters.
- Aggressive restocking by cathode and battery makers raised demand, intensifying competition for limited seaborne cargoes.
- Freight, insurance premiums, and a weaker yen raised landed costs, amplifying pressure on CIF delivered values.
Lithium Carbonate Prices in Europe
- In Belgium, the Lithium Carbonate Price Index rose by 76.63% quarter-over-quarter, reflecting strong import tightness and restocking.
- The average Lithium Carbonate price for the quarter was approximately USD 18251.00/MT, underlining elevated dealer margins.
- Tight Antwerp warehouses pushed the Lithium Carbonate Spot Price higher, tightening physical availability and dealer confidence.
- Regional cathode expansions improved the Lithium Carbonate Demand Outlook, prompting precautionary buying and shortened reorder cycles.
- Rising freight and compliance costs influenced the Lithium Carbonate Production Cost Trend, pressuring DDP margins across suppliers.
- Short-term Lithium Carbonate Price Forecast reflects firming momentum despite scheduled South American cargoes keeping some downward pressure.
- Rising inventories at Antwerp briefly tempered the Lithium Carbonate Price Index, but exporters' selective allocations limit sustained weakness.
- Major distributors maintained tight offer lists amid robust converter restocking, supporting elevated Price Index readings into quarter-end.
Why did the price of Lithium Carbonate change in March 2026 in Europe?
- Tight seaborne availability from Chile and Argentina reduced prompt cargoes, raising delivered supply tightness and premiums.
- Accelerated converter restocking across Flanders and neighbouring countries increased immediate demand, absorbing spot warehouse inventories.
- Higher freight, documentation delays, and regulatory compliance costs elevated DDP delivered costs, sustaining upward price pressure.
Lithium Carbonate Prices in South America
- In Chile, the Lithium Carbonate Price Index rose by 77.28% quarter-over-quarter, reflecting robust export demand.
- The average Lithium Carbonate price for the quarter was approximately USD 17172.67/MT, San Antonio report.
- Thin export parcels tightened the Lithium Carbonate Spot Price and reduced available San Antonio cargoes.
- Consensus Lithium Carbonate Price Forecast suggests modest near-term gains tempered by intermittent inventory releases expected.
- Rising bunker and reagent costs elevated the Lithium Carbonate Production Cost Trend, supporting seller offers.
- Accelerated cathode procurement and EV restocking strengthen the Lithium Carbonate Demand Outlook for the immediate quarters.
- Port inventory draws and constrained output tightened availability, lifting the Lithium Carbonate Price Index significantly.
- Major salar operations ran near capacity while selective parcel sales moderated intra-week volatility in March
Why did the price of Lithium Carbonate change in March 2026 in South America?
- Export-driven demand from Asian cathode makers accelerated procurement, rapidly absorbing available San Antonio export parcels.
- Evaporation-pond yields dipped, and rail slowdowns trimmed dispatch capacity, restricting port inventories and spot availability.
- Regulatory uncertainty and selective producer allocations limited incremental supply, reinforcing upward pressure on FOB offers.
For the Quarter Ending December 2025
North America
• In USA, the Lithium Carbonate Price Index rose by 15.86% quarter-over-quarter, driven by tightening inventories and demand.
• The average Lithium Carbonate price for the quarter was approximately USD 10432.67/MT, reflecting balanced supply and steady procurement.
• Lithium Carbonate Spot Price strengthened amid accelerating gigafactory offtake and depleted availability across the USGC.
• Lithium Carbonate Price Forecast indicates near-term firmness as restocking and utility storage projects sustain purchases.
• Lithium Carbonate Production Cost Trend remained contained, with stable freight and inputs limiting cost-push pressure.
• Lithium Carbonate Demand Outlook shows robust EV and energy-storage procurement supporting elevated procurement through Q4.
• Lithium Carbonate Price Index reflected bullish momentum as import dependency amplified inventory draws across USGC
• Lithium Carbonate Spot Price volatility increased; futures strength supported higher spot offers from international exporters.
• Lithium Carbonate Price Index dynamics were influenced by South American shipments and constrained import volumes.
Why did the price of Lithium Carbonate change in December 2025 in North America?
• Tightening inventories and accelerated gigafactory ramp-ups tightened availability and supported higher offers in December 2025.
• Stable South American shipments met strong offtake but could not offset near-term domestic supply constraints.
• Contained freight and energy costs limited landed cost increases while futures and restocking pushed prices up.
APAC
• In Japan, the Lithium Carbonate Price Index rose by 14.9% quarter-over-quarter, reflecting tighter imports and stock drawdowns.
• The average Lithium Carbonate price for the quarter was approximately USD 10345.33/MT, reported according to trade data sources.
• Lithium Carbonate Spot Price strength matched Price Index gains as merchant inventories declined, tightening prompt availability.
• Lithium Carbonate Price Forecast indicates modest near-term upside driven by restocking, constrained seaborne arrivals, cathode demand.
• Lithium Carbonate Production Cost Trend stayed contained as feedstock and freight costs remained stable, limiting immediate cost-push.
• Lithium Carbonate Demand Outlook remains steady with cathode production ramps and selective restocking supporting sustained procurement levels.
• Japan's Price Index reflected import-parity inflation from a weak yen and freight surcharges, pressuring delivered CIF offers.
• Converter inventories fell as distributors built cover ahead of year-end cell assembly, amplifying short-term tightness.
Why did the price of Lithium Carbonate change in December 2025 in APAC?
• Tighter seaborne arrivals and Chilean regulatory audit reduced near-term supply visibility, tightening merchant inventories material.
• Japanese buyers accelerated year-end restocking, boosting demand while cathode production maintained elevated utilization rates levels.
• Import parity inflation from weak yen and freight surcharges increased delivered costs, supporting higher CIF offers.
Europe
• In Belgium, the Lithium Carbonate Price Index rose by 16.04% quarter-over-quarter, driven by restocking urgency.
• The average Lithium Carbonate price for the quarter was approximately USD 10332.67/MT, per Antwerp sources.
• Lithium Carbonate Spot Price showed steady gains as Antwerp logistics tightened, supporting the Price Index.
• Lithium Carbonate Price Forecast implies upside; Lithium Carbonate Production Cost Trend remains relatively competitive regionally.
• Lithium Carbonate Demand Outlook positive from EV and cathode restocking, supporting a firmer Price Index.
• Elevated warehouse cover limited buying, yet export demand and producer run-rate stability sustained contract volumes.
• China's export licensing reduced arrivals, while EU designation increased competition for traceable Lithium Carbonate supplies.
• Antwerp berth times eased, yet seasonal shipping constraints influenced delivered offers and Price Index margins.
Why did the price of Lithium Carbonate change in December 2025 in Europe?
• Restricted inflows from China export controls tightened availability, elevating spot premiums across Belgium and Europe.
• Robust cathode restocking and EU procurement for traceable material sustained strong demand against limited imports.
• Stable upstream costs and supportive logistics eased pressure, although seasonal shipping delays kept market tightness.
South America
• In Chile, the Lithium Carbonate Price Index rose by 18.25% quarter-over-quarter, reflecting strengthened export demand and supply tightness.
• The average Lithium Carbonate price for the quarter was approximately USD 9687.00/MT, based on reported transactional volumes.
• Lithium Carbonate Spot Price tightened as Asian cathode restocking drained San Antonio availability, supporting firmer seller offer behavior.
• Lithium Carbonate Price Forecast remains cautiously upward as contracted export volumes and restocking underpin selective short-term gains.
• Lithium Carbonate Production Cost Trend stays muted due to low brine feedstock costs and stable evaporation efficiencies.
• Lithium Carbonate Demand Outlook reflects robust EV and LFP adoption, sustaining absorptive capacity in Asian gigafactories.
• Lithium Carbonate Price Index strength was reinforced by regulatory uncertainty around alliances, elevating seller confidence and limiting offers.
• High export flows, steady inventories, and uninterrupted producer operations constrained volatility while sustaining a firm negotiation environment.
Why did the price of Lithium Carbonate change in December 2025 in South America?
• Sustained Asian cathode restocking absorbed Chilean tonnage, tightening spot availability and supporting stable higher offers.
• High operational rates and plentiful brine lowered cost pressures, limiting bearish catalysts despite logistical flows.
• Regulatory uncertainty over major alliances increased seller caution, reducing incremental supply and firming parity levels.
For the Quarter Ending September 2025
North America
• In the USA, the Lithium Carbonate Price Index fell by 3.8% quarter-over-quarter, pressured by abundant imports.
• The average Lithium Carbonate price for the quarter was approximately USD 9004.33/MT, reflecting steady procurement.
• Lithium Carbonate Spot Price tightened as Gulf Coast inventories normalized and Asian benchmarks moderated imports.
• Lithium Carbonate Price Forecast shows consolidation near term, limited upside expected without significant supply disruptions.
• Lithium Carbonate Production Cost Trend eased as spodumene and feedstock prices declined, reducing production costs.
• Lithium Carbonate Demand Outlook improved amid record EV sales and growing utility-scale energy storage procurement.
• Lithium Carbonate Price Index movements reflected port throughput changes and stable freight affecting import economics.
• Export flows from Chile and Argentina cushioned availability while Albemarle's partial shutdowns tightened prompt supply.
Why did the price of Lithium Carbonate change in September 2025 in North America?
• Heavy Chilean and Argentine imports maintained ample supply, offsetting restocking and limiting upward price pressure.
• Lower spodumene costs and contained freight eased upstream cost pressure, reducing producer pass-through to buyers.
• Elevated inventories and cautious offtake by battery makers restrained spot activity despite stronger EV demand.
APAC
• In Japan, the Lithium Carbonate Price Index rose by 1.69% quarter-over-quarter, reflecting restocking, cost pressures.
• The average Lithium Carbonate price for the quarter was approximately USD 9002.67/MT Osaka CIF trade basis, reflecting import parity.
• Lithium Carbonate Spot Price firmed on tighter feedstock arrivals and yen weakness, prompting importer offers.
• Lithium Carbonate Production Cost Trend softened as spodumene costs offset rising freight and currency expenses.
• Lithium Carbonate Demand Outlook remains cautious with cathode restocking, while gigafactory ramps support demand.
• Lithium Carbonate Price Forecast suggests near-term upside as elevated inventories and balanced supply constrain buying.
• Lithium Carbonate Price Index volatility eased in September due to smooth shipments and converter run rates.
• Lithium Carbonate spot liquidity fluctuated with port berthing delays and freight surcharges impacting cost competitiveness.
Why did the price of Lithium Carbonate change in September 2025 in APAC?
• Steady imports and resumed Chinese supply eased tightness, reducing restocking and softening spot price momentum.
• Yen weakness and freight surcharges lifted landed costs, prompting selective CIF purchases and constrained aggressiveness.
• Elevated inventories and measured cathode procurement limited spot demand despite upstream disruptions and logistical delays.
Europe
• In Belgium, the Lithium Carbonate Price Index fell by 3.81% quarter-over-quarter in Q3 2025, reflecting supply pressure.
• The average Lithium Carbonate price for the quarter was approximately USD 8904.33/MT, DDP Antwerp reporting.
• Lithium Carbonate Spot Price strengthened as the Price Index reflected tighter Antwerp inventories and costs.
• Lithium Carbonate Price Forecast shows modest near-term gains conditional on restocking and improving regional Demand Outlook signals.
• Lithium Carbonate Production Cost Trend eased on lower spodumene prices, cushioning the Price Index downside pressure.
• Lithium Carbonate Demand Outlook improved for ESS and selective cathode restocking, supporting Spot Price resilience.
• Lithium Carbonate Price Index volatility tied to South American export flows, Antwerp terminal congestion, distributor adjustments.
• Lithium Carbonate Price Forecast remains range-bound absent sustained procurement, with upper limits constrained by ample European stocks.
Why did the price of Lithium Carbonate change in September 2025 in Europe?
• Persistent imports from Chile and Argentina maintained supply availability, limiting upward pressure despite episodic disruptions.
• Lower spodumene prices eased production costs, while freight and Antwerp congestion intermittently raised landed cost volatility.
• Downstream cautious procurement and elevated inventories constrained demand pull, tempering any sustained recovery in Price Index.
South America
• In Chile, the Lithium Carbonate Price Index fell by 4.19% quarter-over-quarter, reflecting weaker marketwide demand.
• The average Lithium Carbonate price for the quarter was approximately USD 8191.67/MT on an FOB basis.
• Lithium Carbonate Spot Price tightened intermittently due to Chinese restocking and production interruptions in August.
• Lithium Carbonate Price Forecast indicates firmness, with upside risk from supply disruptions and seasonal restocking.
• Lithium Carbonate Production Cost Trend rose as brine depletion increased, pumping depths, and pressuring breakeven levels.
• Lithium Carbonate Demand Outlook improved via Chinese cathode restocking and steady NEV sales supporting the offtake.
• Lithium Carbonate Price Index reflected balanced export flows, stable logistics, and disciplined offers from producers.
• Lithium Carbonate Spot Price and inventory draws will determine near-term balance as expansions come online.
Why did the price of Lithium Carbonate change in September 2025 in South America?
• Temporary production disruptions and La Negra maintenance tightened near-term supply, lifting Chilean spot indications modestly.
• Weak global demand growth and Chinese inventory destocking limited sustained price gains despite sporadic restocking.
• Logistics remained stable, but elevated inventories and long-term oversupply expectations constrained significant upward price momentum.
For the Quarter Ending June 2025
North America (USA)
• The Lithium Carbonate Price Index in the U.S. averaged USD 9,357/MT DDP USGC in Q2 2025, continuing a downward trajectory from earlier in the year as battery producers curtailed spot purchases.
• The Lithium Carbonate Spot Price reflected subdued sentiment, as excess inventories at EV battery manufacturers and slower downstream electric vehicle (EV) rollouts kept procurement soft despite modest stabilization in cathode production.
• Why did the price change in Q2 2025?
• Prices decreased, pressured by persistent oversupply, cautious restocking behaviour from battery manufacturers, and only mild cost relief from steady spodumene imports.
• The Lithium Carbonate Production Cost Trend remained manageable, supported by stable U.S. energy tariffs and steady imports of South American lithium concentrate. However, logistics costs on the Gulf Coast nudged upward due to seasonal freight adjustments.
• The Lithium Carbonate Demand Outlook stayed muted, with EV and energy storage sectors prioritizing contract volumes over spot deals. Growth prospects hinge on potential U.S. incentives for domestic battery production in H2 2025, but Q2 ended with soft market fundamentals.
Europe (Belgium)
• The Lithium Carbonate Price Index in Europe averaged USD 9,267/MT DDP Antwerp during Q2 2025, with prices slipping as downstream gigafactory activity slowed despite steady cathode material exports.
• The Lithium Carbonate Spot Price showed persistent weakness, as buyers preferred short-cycle procurement given declining EV sales in Germany and France, along with broader eurozone industrial softness.
• Why did the price change in Q2 2025?
• Prices declined due to excess regional inventories, weakening EV adoption rates, and competitive offers from Asian suppliers that pressured European contract prices.
• The Lithium Carbonate Production Cost Trend was steady, supported by stable energy costs, but elevated shipping and storage fees from Antwerp’s port congestion offset any relief.
• The Lithium Carbonate Demand Outlook remained subdued, with European automakers cutting output forecasts. Only steady exports of cathode precursors to Asia prevented deeper price drops.
Asia-Pacific (China)
• The Lithium Carbonate Price Index in China averaged USD 9,278/MT CFR Qingdao across Q2 2025, edging down as downstream lithium iron phosphate (LFP) battery producers ran at reduced rates.
• The Lithium Carbonate Spot Price reflected soft domestic buying, as both EV and stationary energy storage segments minimized procurement while waiting for potential stimulus-linked demand recovery.
• Why did the price change in Q2 2025?
• Prices eased due to oversupply, lower-than-expected NEV (New Energy Vehicle) demand growth, and competitive South American cargoes arriving at discounted rates.
• The Lithium Carbonate Production Cost Trend was steady despite lower feedstock spodumene prices, as peak summer power tariffs in northern China kept processing costs firm.
• The Lithium Carbonate Demand Outlook is cautious, with buyers in LFP battery and EV chains refraining from bulk purchasing. Seasonal restocking may provide a mild boost in late Q3, but Q2 closed on a bearish note.
South America (Brazil)
• The Lithium Carbonate Price Index in Brazil averaged USD 8,582/MT FOB Santos Antonio during Q2 2025, marking one of the sharpest regional declines as export volumes remained high despite soft global demand.
• The Lithium Carbonate Spot Price tracked weaker, as oversupply from Chilean and Argentine brine operations flowed into Brazil, forcing traders to lower offers to maintain throughput.
• Why did the price change in Q2 2025?
• Prices dropped due to aggressive supply inflows, tepid global battery demand, and heavy discounting to secure export orders into Asia and Europe.
• The Lithium Carbonate Production Cost Trend stayed favourable, supported by low brine extraction costs and stable regional energy tariffs, though weakening FX rates slightly pressured margins.
• The Lithium Carbonate Demand Outlook remained soft, with limited domestic consumption and most volumes reliant on export markets, where buyers-maintained leverage due to abundant supply.
