The African nation of Zimbabwe has suspended the export of raw ore, sparking external concerns about potential supply disruptions and leading to a sharp rise in Chinese lithium prices on the 26th.
According to foreign media reports, the price of lithium carbonate contracts on the Guangzhou Futures Exchange rose by 6.07% at 11:30 a.m. Malaysia time, reaching 178,020 yuan (100,900 ringgit) per ton.
On the 25th, Zimbabwe announced the immediate suspension of all exports of raw ore and lithium concentrate.
Zimbabwe is Africa's largest producer of lithium. In 2025, it exported 1.128 million tons of spodumene concentrate, up 11% from the previous year, with most exports going to China.
In recent years, Chinese mining companies such as Zhejiang Huayou Cobalt and Sinomine have made significant investments in Zimbabwe.
Expectations of a booming energy storage system market have driven lithium prices higher since the second half of 2025. Zimbabwe's export ban at this time has raised concerns about the stability of raw ore supply.