Highlights

  • Lithium carbonate futures climbed nearly 30% year-to-date to above CNY150,000 per tonne amid capped supply growth.
  • Pilbara Minerals shares gained about 70% over the past 90 days ahead of its December 2025 quarterly report.
  • Core Lithium identified capital reductions of $35–$45 million at Finniss as part of an updated restart plan.

Global lithium carbonate prices have staged a sharp rebound in early 2026, reversing a prolonged oversupply phase as demand from electric vehicles and grid-scale energy storage accelerates. The renewed price momentum has lifted sentiment across the ASX lithium sector, with Pilbara Minerals Ltd (ASX: PLS) extending its share rally ahead of a key quarterly update, while Core Lithium Ltd (ASX: CXO) advances planning for a cautious restart of its Finniss operation in the Northern Territory.

Lithium Prices Rebound on Policy and Infrastructure Push

Lithium carbonate futures surged to a two-year high in January, supported by a tightening supply outlook and accelerating downstream demand. Chinese authorities moved to lower export rebates for battery producers from April, prompting manufacturers to advance lithium procurement schedules.

At the same time, China outlined increased investment in power infrastructure and data centres, alongside higher spending on grid-scale energy storage. Beijing also confirmed plans to double electric vehicle charging capacity to 180 gigawatts by 2027, reinforcing demand expectations for lithium-based storage systems.

Pilbara Minerals Extends Share Rally Ahead of Q4 Update

Pilbara Minerals’ (ASX:PLS) shares were trading around AUD 4.86 per share at the time of writing on 13 January 2026, up about 15.7% year-to-date and nearly 195% over the past six months. The company is scheduled to release its December 2025 Quarterly Activities Report on 30 January 2026, following a solid September quarter production outcome.

During the September 2025 quarter, Pilbara produced 224.8 thousand tonnes of spodumene concentrate and sold 214.0kt at an average realised price of USD 742 per tonne (CIF China). Quarterly revenue rose 30% to AUD 251 million, while unit operating costs declined 13% to USD 353 per tonne. The company ended the quarter with a cash balance of AUD 852 million, following capital expenditure of AUD 78 million.

Core Lithium Advances Finniss Restart Strategy

Core Lithium (ASX:COL) shares were trading near AUD 0.32 per share at the time of writing on 13 January 2026. Year-to-date gains stands at 13.72% and in six-months, it has increased by almost 186%. The company has sharpened its strategic focus by divesting non-core uranium assets in December 2025. The move supports progress toward restarting the Finniss lithium project, located 88km by road from Darwin Port within the Bynoe Pegmatite Field.

An updated geotechnical assessment at the Grants deposit identified an opportunity to bring forward revenue by initially mining via open pit before transitioning underground. The revised plan is expected to reduce Grants pre-production capital costs by AUD 35–45 million. A further restart study is due in March.