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
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies