Zheng Quan Shi Bao Wang·2025-11-18 23:59Core Viewpoint - Strong demand is leading to a monthly shortage of lithium carbonate, with supply at approximately 115,000 tons and demand at 128,000 tons in November, resulting in a shortfall of about 13,000 tons, indicating a continuous destocking in the market [1] Supply and Demand Analysis - The current supply of lithium carbonate is approximately 115,000 tons, while demand is at 128,000 tons, creating a shortage of around 13,000 tons [1] - The consumption during the off-season remains robust, with orders expected to support demand into next year, shifting the supply-demand imbalance from supply pressure to demand-driven [1] Long-term Outlook - In the medium to long term, the sustained growth in energy storage demand is expected to drive a price increase across the entire lithium battery supply chain, significantly improving the fundamental supply-demand dynamics for lithium carbonate [1] - Static forecasts indicate that global lithium resource supply will reach 2,089,000 tons and consumption will be 2,004,000 tons by 2026, resulting in a surplus of only 85,000 tons, which is a reduction compared to 2025 [1] - Considering the inventory buildup in the supply chain, a structural shortage of lithium is anticipated in 2026, with price drivers shifting from supply pressure to demand-driven increases [1]