Lithium demand for use in EV batteries and energy storage systems is surging
Lithium prices to stay strong until 2024
Prices are expected to fall back as more production comes online in the middle of the decade, says Fitch Solutions
Accelerating demand for lithium-ion batteries for use in electric vehicles (EVs) and energy storage systems and a tight upstream will support elevated lithium prices in the short term, according to a market report from research firm Fitch Solutions. As a result, Fitch forecasts the market's supply deficit will widen from 259,000t in 2022 to 329,000t in 2023. After 2024, pricing pressures will ease as manufactures close offtake agreements with mines. “We expect that prices will crash in 2025 as a large volume of production comes online, only to recover upwards again as the supply deficit expands once more,” says the report. $67,000/t – Forecast lithium prices in 2022 Lithium prices ha
Also in this section
18 February 2025
Demand for CCS to abate new gas-fired plants is rising as datacentres seek low-carbon power, Frederik Majkut, SVP of industrial decarbonisation, tells Carbon Economist
11 February 2025
Rising prices have added to concerns over CBAM impact on the competitiveness of EU manufacturing
7 February 2025
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
30 January 2025
The UAE’s oil and gas company puts its faith in technologies including CCS and AI to deliver its emission-reduction goals
