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",[598],{"type":593},{"text":600,"type":588},"tracks changes in the lithium chemicals inventory across chemical producers, converters, traders, and any midstream or downstream end consumers in China.",{"type":574,"attrs":602,"content":603},{"textAlign":49},[604,610,614],{"text":605,"type":588,"marks":606},"A ",[607,608],{"type":593},{"type":609},"superscript",{"text":611,"type":588,"marks":612},"Cathode Inventory ",[613],{"type":593},{"text":615,"type":588},"tracks changes in the quantity of cathode active material held at midstream and downstream operations in China.",{"type":617,"content":618},"bullet_list",[619,641,651,661,671],{"type":620,"content":621},"list_item",[622],{"type":574,"attrs":623,"content":624},{"textAlign":49},[625,632,636],{"text":626,"type":588,"marks":627},"At",[628],{"type":629,"attrs":630},"textStyle",{"color":631},"black",{"text":587,"type":588,"marks":633},[634],{"type":629,"attrs":635},{"color":572},{"text":637,"type":588,"marks":638},"the start of May 2026, lithium inventories were drawn down rapidly, as consumers sought to reject increasing prices for material. Later in the month, the trend reversed in response to falling raw material prices. By the end of the period, opportunistic purchasing meant that overall inventory was down only moderately, by 1,500 LCE tonnes m-o-m",[639],{"type":629,"attrs":640},{"color":631},{"type":620,"content":642},[643],{"type":574,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":588,"marks":648},"Lithium imports to China rose notably across lithium carbonate, hydroxide and sulphate. Robust chemical availability was counterbalanced by some converters forced to reduce utilisation rates due to a lack of hard rock feedstock",[649],{"type":629,"attrs":650},{"color":631},{"type":620,"content":652},[653],{"type":574,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":588,"marks":658},"Elevated prices prompted some older carbonate to enter the market. Contacts reported that without reprocessing, this material was only suitable for LFP producers with more advanced, flexible lines, supplying BESS end markets",[659],{"type":629,"attrs":660},{"color":631},{"type":620,"content":662},[663],{"type":574,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":588,"marks":668},"Production schedules and inventory levels at NCM cathode producers rebounded in May, buoyed by robust domestic demand for commercial vehicles and export demand for long-range EVs. Meanwhile, LFP cathode producers maintained consistently robust utilisation rates and the ramp up of several new lines drove a moderate increase of cathode material inventory",[669],{"type":629,"attrs":670},{"color":631},{"type":620,"content":672},[673],{"type":574,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":588,"marks":678},"Overall cathode material inventory rose moderately at both the CAM and cell producer levels. The latter increased inventory to account for their expectation of strengthening demand in June. However, volatile lithium prices discouraged either from increasing inventory substantially",[679],{"type":629,"attrs":680},{"color":631},{"type":574,"attrs":682,"content":683},{"textAlign":49},[684,689],{"type":578,"attrs":685},{"id":686,"alt":572,"src":687,"title":572,"source":572,"copyright":572,"meta_data":688},171131018729365,"https://a.storyblok.com/f/287943243085208/2296x434/48fba50ddd/2026-04-28-bottom-table-for-hubspot.png",{},{"type":578,"attrs":690},{"id":691,"alt":572,"src":692,"title":572,"source":572,"copyright":572,"meta_data":693},193129187355868,"https://a.storyblok.com/f/287943243085208/1620x91/54aebdbede/2026-06-30-key.png",{},{"type":574,"attrs":695,"content":696},{"textAlign":49},[697,699,704,706,710],{"text":698,"type":588},"  ",{"text":700,"type":588,"marks":701},"B, C ",[702,703],{"type":593},{"type":609},{"text":705,"type":588}," The ",{"text":707,"type":588,"marks":708},"Lithium Chemicals Inventory Change Break Down and the Cathode Inventory Change Break Down ",[709],{"type":593},{"text":711,"type":588},"illustrates where inventory sits within the supply chain for lithium chemicals and cathode active material, respectively. Lighter orange denotes lower-than-typical inventory levels, darker orange denotes higher-than-typical inventory levels. An up arrow indicates restocking, a flat arrow indicates a static balance, and a down arrow indicates destocking. The inventory changes at these supply chain steps comprise the overall change in the inventory trackers above.",{"type":574,"attrs":713,"content":714},{"textAlign":49},[715],{"text":698,"type":588},"At the start of May 2026, lithium inventories were drawn down rapidly, as consumers sought to reject increasing prices for material. Later in the month, the trend reversed in response to falling raw material prices. By the end of the period, opportunistic purchasing meant that overall inventory was down only moderately, by 1,500 LCE tonnes m-o-m.","briefing",[719,721,724],{"slug":720,"name":8},"lithium",{"slug":722,"name":723},"critical-minerals","Critical Minerals",{"slug":725,"name":726},"raw-materials","Raw Materials","private","monthly","May 29, 2026","29th May 2026",{"slug":732,"title":733,"cardImage":734,"description":735,"frequency":736},"lithium-inventory-tracker","Lithium Inventory Tracker","https://a.storyblok.com/f/287943243085208/1504x784/f371111ea2/inventory-tracker.png","This Briefing charts and explains the levels of lithium and CAM inventory held in China.","Monthly",[],[],1792688628027]