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
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
27 January 2025
Regional state-owned firms are transforming their strategies and leveraging their resources to position themselves as clean energy powerhouses, and to ensure they maintain influence in a low-carbon world
24 January 2025
Progress on the energy transition has slowed or even stopped, with greater societal engagement we can revitalise it
23 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised