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Home/Materials/Bottlenecks/Battery materials
Australia / Chile / China · Materials

Lithium, Graphite & Cathodes

After the price bust, supply exceeds demand. Non-China graphite and processing remain the strategic gap.

Mine→Refine→Cathode / anode→Cell
34
Tightness score ⓘ
#56 of 56
▼ Easing
Supply concentration4
Lead time4
Capex intensity4
Geopolitical exposure4
Pricing power1
Lead time
24–48 mo
Theme 1M
−19.2%
% in uptrend
0%
Metric to watch

Lithium carbonate prices, mine curtailments, and graphite export controls.

What would prove us wrong

Strengthens if curtailments and storage demand rebalance the market.

Dependencies
↓ customer  Grid Batteries46↓ customer  Robot Platforms & Humanoids44

Battery materials theme performance

Equal-weight · rebased 100 · 1Y
Stocks we track

Who controls this bottleneck

Roles, not recommendations. Delayed prices; local currency.

StockRoleListingLast1D1M3MYTDOff 52w highTrendNext earnings
ALB
Albemarle
 Largest lithium producer outside China NYSE
US		 $91.00 −2.43% −13.4% −23.1% −35.1% −57.5% 2026-11-04
SQM
SQM
 Lithium brine producer NYSE
Chile		 $54.65 −3.05% −14.8% −16.9% −18.1% −41.1% 2026-11-17
PLS.AX
Pilbara Minerals
 Hard-rock lithium ASX
Australia		 A$2.64 −4.00% −27.7% −37.8% −36.9% −60.5% —
LAC
Lithium Americas
 Thacker Pass lithium project NYSE
US		 $2.03 −4.69% −21.0% −31.9% −53.4% −68.5% 2026-11-13

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