Base metals fall on Italy debt worries, supply in focus

Firm expects global lithium demand to increase 26% to 1.46 million tonnes in 2025 on a lithium carbonate equivalent basis.

BMO Capital Markets has lowered its demand estimates for next year on the anticipation that higher tariffs and multilateral trade friction could tamp down industrial output.

The biggest change over three decades is China becoming the number one producer, as its output has more than tripled.

"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."