Lithium Demand Surges in May as EV Battery Capacity Growth Exceeds 20%

According to Jin10 Futures research on May 20, lithium supply disruptions are mounting as Zimbabwe's mining ban, Mali's geopolitical tensions, and Australia's diesel shortage trigger production constraints. Meanwhile, demand resilience accelerated in May, with electric vehicle sales improving month-on-month and per-vehicle battery capacity growth exceeding 20%. Energy storage deployment continues supporting demand alongside broader renewable energy adoption.

Market reports cite 100,000 tons of undisclosed lithium inventory, adding uncertainty to supply calculations. The supply-demand balance remains tight with frequent disruptions expected to sustain price volatility.