Lithium prices soared to an astounding USD$80,000/tonne last year, only to plummet in recent months.
But don’t be deceived. This rollercoaster is gearing up for another thrilling climb, and you’ll want to grab a seat.
The cause of last year’s surge?
A potent mix of battery demand and COVID-19 supply chain disruptions. Now that prices have settled back to late-2021 levels, you may think the excitement is over.
Think again.
The lithium game is about to change, driven by an insatiable appetite for electric vehicles (EVs). As countries battle climate change and phase out gas-guzzling cars, EV sales are skyrocketing – and so too will the demand for lithium.
As more and more countries take up the fight against climate change and push for bans on the sale of gas-powered vehicles by the end of the decade, this trend in new EV sales will only accelerate.
Electric vehicle sales are projected to triple by 2030… and lithium demand with it.
There is one problem though: as things are now, supply won’t be able to keep up.