She also said she expects China's electric vehicle demand growth to slow from 95% last year to 22% this year.
Salt evaporation ponds seen on Bristol Dry Lake where Standard Lithium Ltd. is preparing to use Direct Lithium Extraction technology to capture lithium from brine on November 30, 2022 near Amboy, CaliforniaThere could be a surplus of lithium in 2023 as higher supply volumes are set to supersede slowing demand for the metal, said Bank of America Securities' head of Asia Pacific basic materials, Matty Zhao.
"We see a lot of supply coming out from lithium mines ... We are expecting 38% lithium supply growth this year. That's why 2023 is likely to turn into a surplus year for lithium," Zhao told CNBC.
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