The lithium market has witnessed substantial volatility in prices, with fluctuations observed in both lithium carbonate and lithium hydroxide prices. For instance, Benchmark Mineral Intelligence data shows a drastic fluctuation from $70,957 per metric ton to $17,265 over the course of a year.
Overall, the Global market value of lithium is expected to reach at 19 billion U.S. dollars by the year 2030. Here is an overview of historical lithium prices.
Despite recent price volatility, driven by supply and demand dynamics and geopolitical factors, the long-term outlook for lithium remains robust. The market has experienced significant price fluctuations, with Benchmark Mineral Intelligence reporting a 70% decrease in lithium prices by the end of November.
The global demand for lithium is projected to surpass 2.4 million metric tons of lithium carbonate equivalent by 2030, driven primarily by the increasing battery demand for electric vehicles. This substantial growth underscores the critical role of lithium in shaping future technological advancements. The Current State of Lithium Prices
Lithium, a critical component in modern batteries, is essential for various industries, particularly electric vehicles (EVs). The lithium market, characterized by key players and diverse extraction sources, is expected to see a surge in demand, projecting over 2.4 million metric tons of lithium carbonate equivalent by 2030.
Also, Rio Tinto aimed to enter the lithium market by buying US-baed Arcadium Lithium for $6.7 billion. Trading Economics provides Lithium pricing based on spot prices for Lithium Carbonate, 99.5% Li2CO3 min, battery grade, traded in China. Lithium is a silver-white light metal.