Core Insights - The chairman of Ganfeng Lithium, Li Liangbin, predicts that global lithium carbonate demand will increase from an original estimate of 1.45 million tons in 2025 to 1.55 million tons due to growth in the second half of the year [1][2] - Supply capacity is expected to exceed 1.7 million tons, resulting in a surplus of approximately 200,000 tons, which has led to low prices this year [1][2] - For 2026, lithium carbonate demand is projected to grow by 30% to 1.9 million tons, with supply capacity expected to increase by around 250,000 tons, leading to a near balance in supply and demand and potential price increases [1][2] - If demand growth exceeds 30% next year, potentially reaching 40%, short-term supply may not balance, and prices could exceed 150,000 yuan/ton, possibly reaching 200,000 yuan/ton [1][2]