Slow progress at two lithium sulphate production facilities is likely to force the Zimbabwean government’s hand in how a lithium concentrate export ban planned for the end of this year is handled. The government made the resumption of suspended hard rock lithium exports conditional on firm commitments from producers on bringing lithium sulphate production in-country, with a nominal deadline of January 2027, which a number of mines appear unlikely to achieve.

India’s growing demand for batteries is rapidly outpacing growth in cell production in the country. In 2025, India's government waived import duties on goods and machinery to make lithium ion batteries for EVs and phones. Initially, this was due to expire 31 March 2026, but was later extended to 31 March 2028. This built on India's previous moves to reduce reliance on imported cells. In 2020, it introduced the Production Linked Incentive (PLI) scheme. Despite this, India’s battery sector continues to be impacted by project delays.

Following the 2011 Fukushima disaster, the uranium market and price environment remained muted, as reactor shutdowns vaporised demand faster than mine supply could adjust. Now, however, the uranium market is entering a structural deficit, as assessed by Benchmark's Uranium Service. The market is already in a marginal deficit for 2026. As nuclear power plays a growing role in the roll-out of data centres and other industries, this deficit is forecast to grow, and will continue to expand unless new supply can be brought online.

Plans to halt approvals for new Chinese cell capacity for 2026 have been confirmed and expanded to include production of cells for EV applications as well as for battery energy stationary storage (BESS) as part of a review of total battery capacity, expected to be completed by year end.