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
14 May 2025
Deal with Calpine shows oil and gas major ExxonMobil has no intention of curbing its CCS ambitions, despite US policy risks and broader scepticism over the energy transition
13 May 2025
Volatile tariffs add new risks for a sector already struggling to achieve economies of scale
30 April 2025
State administrations are using a flawed metric to justify green energy projects
29 April 2025
Spain’s unprecedented blackout highlighted the risk for green hydrogen producers with exposure to Europe’s creaking power grids
