Lithium Industry Annual Report 2025

Contents
1. Lithium Industry Overview 4
1.1 Definition 4
1.2 Type 4
1.3 Distribution 4
1.4. Application 4
2. Economy and Policy 4
2.7 China's Q1 foreign trade hits all-time high 5
2.9 China adjusts tariffs on US imports 6
2.10 China-U.Asian Metal Copyright8 Boshi High-tech resumes production of LMO 22 4.Asian Metal CopyrightS. trade talks in Kuala Lumpur deliver positive results 6
2.11 Sichuan emerges as strategic hub for critical minerals 6
2.12 China's mineral exploration investment grows for fourth straight year 6
2.13 Guangxi boosts nonferrous and critical metals industry 6
2.14 China issues its first international standard for lithium industry 7
3. Market Movement 7
3.1 Chinese Market Movements 7
3.1.Asian Metal Copyright1 Lithium carbonate producers statistics 34 5.Asian Metal Copyright1 Lithium carbonate 99.2%min Delivered D/P 7
3.1.Asian Metal Copyright5%min FOB South America 18 3.Asian Metal Copyright2 Lithium carbonate 99.5%min Delivered D/A 180 days 8
3.1.Asian Metal Copyright1.Asian Metal Copyright4 Lithium hydroxide monohydrate 56.Asian Metal Copyright5%min, magnetic substance 0.Asian Metal Copyright5%min, magnetic substance 0.0001%max Delivered D/A 180 days 9
3.1.6 Lithium metal 99%min Delivered D/A 180 days 10
3.1.Asian Metal Copyright67 Fulin P.Asian Metal Copyright7 Lithium metal 99.9%min Delivered D/A 180 days 11
3.1.8 LCO Co 60%min Delivered D/A 180 days 11
3.1.9 LNCMO 523/613/613 Delivered D/A 180 days 12
3.1.10 LMO 58%min Delivered D/A 180 days 13
3.1.11 Chinese LFP Delivered D/A 180 days 14
3.2 International Market Movements 15
3.2.1 Spodumene 6%min CIF China 15
3.2.Asian Metal Copyright70 Anhui Tiantie signs copper-lithium composite strip supply deal 30 4.Asian Metal Copyright2 Lithium carbonate 99.5%min CIF China 16
3.2.Asian Metal Copyright69 Mamicuo Mining secures lithium mining permit 29 4.Asian Metal Copyright3 Lithium carbonate 99.5%min Delivered Europe 16
3.2.Asian Metal Copyright62 CORNEX and LBM sign long-term LFP supply deal 28 4.Asian Metal Copyright5 Lithium carbonate 99.5%min FOB South America 18
3.2.Asian Metal Copyright13 Mineral Resources releases FY25 half year results 22 4.Asian Metal Copyright6 Lithium hydroxide monohydrate 56.Asian Metal Copyright23 Hunan Yuneng sets new record in phosphate cathode materials shipments 24 4.Asian Metal Copyright5%min, magnetic substance 0.0001%max FOB China 19
3.2.Asian Metal Copyright33 Shandong Moris puts into production of lithium metal 25 4.Asian Metal Copyright7 Lithium hydroxide monohydrate 56.Asian Metal Copyright11 Ganfeng Lithium starts production at Mariana salt lake project 22 4.Asian Metal Copyright5%min, magnetic substance 0.0001%max Delivered South Korea 20
4. Company Review 21
4.1 SIGMA LITHIUM exceeds 4Q2024 targets with 75,000t of quintuple zero green lithium production 21
4.2 GEM to increase NCM precursor production capacity in Indonesia 21
4.3 Anhui Tianli sells cathode material project assets 21
4.4 Brunp Contemporary to build 450ktpa LFP project 21
4.5 Tianqi Lithium calls off 24ktpa lithium hydroxide project 21
4.6 CBL postponed production expansion plan for spodumene 22
4.7 Chengxin Lithium resumes production of lithium carbonate 22
4.8 Boshi High-tech resumes production of LMO 22
4.9 China Salt Lake inaugurated in Qinghai 22
4.10 Easpring Technology and CNGR sign lithium battery materials cooperation deal 22
4.11 Ganfeng Lithium starts production at Mariana salt lake project 22
4.12 Xinjiang Blue Diamond increases output of lithium carbonate 22
4.13 Mineral Resources releases FY25 half year results 22
4.14 Yibin Tianyi plans to resume production of lithium hydroxide 22
4.15 Wanhua Chemical breaks ground on battery materials industrial park 23
4.16 EIA released for Brunp Contemporary's 450ktpa LFP project 23
4.17 Hainan Mining's lithium hydroxide project finishes hot commissioning 23
4.18 Easpring Technology and SK On ink cathode materials supply agreement 23
4.19 Sinomine restructures lithium raw material and rare light metal sectors 23
4.20 Shinghwa Lianjiang inks deal to supply electrolyte to CATL 23
4.21 Fulin P.Asian Metal Copyright2.Asian Metal CopyrightM. and CATL forge strategic partnership on lithium iron phosphate 23
4.22 China Salt Lake commissions lithium extraction upgrade project 23
4.23 Hunan Yuneng sets new record in phosphate cathode materials shipments 24
4.24 Zangge Mining's annual copper production up 8% YoY 24
4.25 Qinghai Yanhu Industry reports higher lithium production and sales in 2024 24
4.26 Zangge Mining's annual copper production up 8% YoY 24
4.27 Brunp Contemporary breaks ground on 450ktpa LFP project 24
4.28 Fengyuan Lithium Energy signs LFP supply agreement with BYD Battery 24
4.29 Shandong RuiFu reduces production of lithium carbonate 24
4.30 Shidai Ruixiang begins production at 20ktpa LMFP project 25
4.31 Fulin Group signs agreement to build LFP project in Shehong 25
4.32 Qinghai Yanhu releases Q1 lithium carbonate production and sales results 25
4.33 Shandong Moris puts into production of lithium metal 25
4.34 Easpring Finland breaks ground on cathode material plant 25
4.35 Chengdu Youngy decreases output of lithium carbonate 25
4.36 Zangge Mining announces Q1 production and sales results 25
4.37 China Minmetals increases the output of lithium carbonate 25
4.38 Yahua International and Core Lithium terminate spodumene offtake agreement 25
4.39 Yacimientos de Litio plans to expand production 26
4.40 Wanrun New Energy signs LFP supply deal with CATL 26
4.41 Ningxia Baofeng puts into commercial production of LFP 26
4.42 Nandu Huabo puts into production of a new line of lithium carbonate 26
4.43 Zhejiang Tiantie and Xinjie Energy form strategic partnership on lithium metal anode 26
4.44 Hainan Mining produces first batch of battery-grade lithium hydroxide 26
4.45 Nantong Reshine raises production of LFP 26
4.46 Zangge Mining announces Q1 production and sales results 26
4.47 Lopal Tech's subsidiaries sign LFP cathode materials sales agreement 27
4.48 China Minmetals increases the output of lithium carbonate 27
4.49 Yahua International and Core Lithium terminate spodumene offtake agreement 27
4.50 Anhui Tiantie to raise output of lithium metal 27
4.51 Yacimientos de Litio plans to expand production 27
4.52 Wanrun New Energy signs LFP supply deal with CATL 27
4.53 Hubei Rongtong increases the output of LFP 27
4.54 Ningxia Baofeng puts into commercial production of LFP 28
4.55 Nandu Huabo puts into production of a new line of lithium carbonate 28
4.56 Jiangxi Yun Lithium resumes production of lithium carbonate 28
4.57 Zhejiang Tiantie and Xinjie Energy form strategic partnership on lithium metal anode 28
4.58 Hainan Mining produces first batch of battery-grade lithium hydroxide 28
4.59 Nantong Reshine raises production of LFP 28
4.60 Lubei Wanrun reduces output of LFP 28
4.61 Shengrong begins production at lithium cathode additive project in Hunan 28
4.62 CORNEX and LBM sign long-term LFP supply deal 28
4.63 Sinomine to upgrade lithium salt production line 29
4.64 Ganfeng ships first batch of lithium concentrate from Mali 29
4.65 Hainan Mining secures spodumene supply from Bougouni lithium project 29
4.66 Shuneng Mineral secures over 2000 tonnes in LFP orders 29
4.67 Fulin P.Asian Metal Copyright4 Stocks of LNCMO producers 43 6.Asian Metal CopyrightM. and SD Lomon team up on LFP and precursor projects 29
4.68 Mamicuo salt lake lithium project obtains construction permit 29
4.69 Mamicuo Mining secures lithium mining permit 29
4.70 Anhui Tiantie signs copper-lithium composite strip supply deal 30
4.71 Hunan Yuneng to invest in LFP plant in Malaysia 30
4.72 Zangge Mining reports H1 2025 production results 30
4.73 CATL suspends mining at Yichun lithium project 30
4.74 Tianyuan Group starts trial production at Dingjia phosphate mine 30
4.75 Ganfeng, LAR to consolidate lithium projects in Argentina 30
4.76 Yahua Group expects lithium salt capacity at 130kt by end-2025 30
4.77 Sinomine reports strong light metals performance in H1 31
4.78 Fulin P.Asian Metal Copyright38% YOY in 2025 44 6.Asian Metal CopyrightM. H1 revenue jumps as LFP shipments rise 31
4.79 Hunan Yuneng's phosphate cathode shipments surge in H1 31
4.80 Qinghai Yanhu reports higher lithium carbonate output and sales in H1 31
4.81 Lijiagou lithium mine project reaches full production 31
4.82 Huayou Cobalt sells 25% stake in cathode materials JV to Toyota Tsusho 31
4.83 LBM New Energy signs long-term LFP supply deal with CATL 31
4.84 CATL signs RMB1.5 billion prepayment deal to secure LFP supply 31
4.85 Chengxin Lithium to acquire 21% stake in Qicheng Mining 31
4.86 Qinghai Yanhu reports steady Q3 lithium output and sales 32
4.87 GEM signs battery materials supply agreement with XTC New Energy 32
4.88 Jiangxi Shenghua to build 350ktpa high-density LFP project 32
4.89 Dazhong Mining secures first large-scale lithium mining license 32
4.90 Lopal Tech reports Q1-Q3 LFP output and sales 32
4.91 Jiuling Lithium signs lithium carbonate project in Yichun 32
4.92 Hainan Mining starts Phase I production at Bougouni Lithium Mine 32
4.93 Hunan Dazhonghe lithium carbonate project breaks ground 33
4.94 Tinci Materials signs electrolyte supply agreements 33
4.95 Jiangsu Ruitai to boost investment in LiPF6 project 33
4.96 Lopal Tech expands LFP supply to CORNEX 33
4.97 Chengdu Bamo inks long-term ternary materials supply deal with EVE Energy 33
4.98 LBM (AP) secures five-year LFP cathode order from Sunwoda Thailand 33
4.99 Zijin Mining commissions first hard-rock lithium polymetallic project 33
4.100 Chengxin Lithium secures five-year lithium salt supply deal with CALB 33
4.101 Lopal Tech plans to expand LFP cathode material capacity 34
4.102 Wanrun New Energy to maintain LFP production lines 34
4.103 Hunan Yuneng plans maintenance on phosphate cathode material production lines 34
4.104 Zijin Mining commissions first hard-rock lithium polymetallic project 34
5. Producers Statistics 34
5.1 Lithium carbonate producers statistics 34
5.1.2 Operating rates of lithium carbonate producers 35
5.1.3 Output of lithium carbonate producers 36
5.1.4 Stocks of lithium carbonate producers 37
5.2 Lithium hydroxide producers statistics 38
5.2.2 Operating rates of lithium hydroxide producers 38
5.2.3 Output of lithium hydroxide producers 38
5.2.4 Stocks of lithium hydroxide 39
5.3 LCO producers statistics 39
5.3.2 Operating rates of LCO producers 40
5.3.3 Output of LCO producers 40
5.3.4 Stocks of LCO producers 41
5.4 LNCMO producers statistics 41
5.4.1 Production capacity of LNCMO producers 41
5.4.2 Operating rates of LNCMO producers 42
5.4.3 Output of LNCMO producers 42
5.4.4 Stocks of LNCMO producers 43
6. Customs Statistics 43
6.1 China's lithium carbonate imports up by 3.4% YOY in 2025 43
6.2 China's lithium hydroxide exports down by 55.38% YOY in 2025 44
6.3 China's lithium carbonate exports up by 38.17% YOY in 2025 44
7. Market outlook for 2025 44
7.1 Lithium carbonate 99.2%min 44
7.2 Lithium carbonate 99.5%min 45
7.4 Lithium hydroxide 56.Asian Metal Copyright93 Hunan Dazhonghe lithium carbonate project breaks ground 33 4.Asian Metal Copyright5%min, magnetic substance 0.0001%max 45
7.5 Lithium metal 99%min 45
7.6 Lithium metal 99.9%min 45
7.7 LCO Co 60%min 45
7.8 LNCMO 45
7.9 LMO 50%min 45
7.10 LFP 3.9%min 45
7.11 Spodumene 6%min 45


.Asian Metal Copyright20 Shinghwa Lianjiang inks deal to supply electrolyte to CATL 23 4Asian Metal Copyright