Argentina's lithium production is set to grow significantly, with annual capacity expected to increase by 79% to 202,000 metric tons equivalent, thanks to the commissioning of four new lithium projects. Against the backdrop of oversupply and slowing demand in the global lithium market, the price of lithium carbonate has fallen sharply, even plummeting by over 80%. Argentina as the global lithium resources reserves, its expansion plan will further affect the lithium price trend. In addition, a number of Chinese miners will participate in the development of new lithium mines, including Qingshan Holdings, Zijin Mining and Ganfeng Lithium. Although the new capacity will not be fully operational immediately, the certainty of increased supply may lead to further pressure on lithium prices. For the global lithium market, Argentina's production expansion plan is undoubtedly a negative news.