China's 10 industries' outlooks for 2024

Lithium battery

After experiencing price slump in 2023, the year-on-year decline in the price of lithium carbonate will significantly narrow in 2024 and even see a considerable rebound, some industry insiders said.

Due to overcapacity, the price of the whole industrial chain still has room for decline, said executives in charge of some leading lithium battery enterprises.

A "neijuan", or fierce market competition, will give rise to truly innovative and globally competitive companies, said Xiang Guangda, board chairman of stainless-steel producer Tsingshan Holding Group.

Liu Jincheng, chairman of EVE Energy Co, said the industry will be more stable in the future after experiencing a round of boom and bust, the price will be stable as well as the operation will be more rational.

The high-end electric vehicle rise will drive the upstream lithium battery industry chain out of the situation of only pursuing low prices in a certain extent, and the high-quality product is the key, said industry insiders.