Hua Xia Shi Bao·2025-11-28 09:40Core Viewpoint - The lithium carbonate market is experiencing fluctuations, with recent price increases in futures and stock prices, indicating a potential recovery phase after a period of volatility [2][6]. Group 1: Market Trends - On November 25 and 26, lithium carbonate futures saw a rebound, with the main contract rising by 4.47% and 1.37%, respectively, moving from approximately 90,000 yuan/ton to 94,500 yuan/ton [2]. - The Wan De lithium mining index increased by 2.99% on November 25 but fell by 0.38% on November 26, reflecting mixed market sentiment [2][7]. - The continuous destocking trend in lithium carbonate has shown signs of slowing down, with a total inventory of 118,400 tons as of November 21, only a slight decrease of 2,052 tons from the previous week [8]. Group 2: Demand Forecasts - Industry leaders predict significant growth in lithium demand, with Tianqi Lithium's chairman forecasting a global demand of 2 million tons of lithium carbonate equivalent by 2026, driven by renewable energy and electric vehicle sectors [3][4]. - Ganfeng Lithium's chairman revised the 2025 global lithium demand forecast from 1.45 million tons to 1.55 million tons due to increased demand in the latter half of the year [3]. Group 3: Price Dynamics - As of November 25, the domestic battery-grade lithium carbonate price was 92,266 yuan/ton, reflecting a 21.56% year-on-year increase, while industrial-grade lithium carbonate was priced at 90,433 yuan/ton, up 21.99% year-on-year [8]. - The price fluctuations are attributed to the ongoing recovery in end-user demand, particularly in the electric vehicle and energy storage sectors, which are expected to drive prices higher in the medium to long term [8][10].