March Lithium Price Rebound Bolsters Stability in EV Battery Costs

After a year-long decline, China’s EV battery market is stabilizing, with lithium carbonate prices rebounding in March. EV battery prices remain steady, with various types showing stability. ESS battery demand is recovering slowly, while consumer battery prices saw a slight increase due to metal price revivals. Raw material costs have halved since early 2023, leading to stability in supply-demand dynamics. However, competition from Chinese NEV brands may drive further price drops for EV batteries in Q2.