Lithium carbonate prices in China rose to 198,500 yuan per tonne, as tight supplies struggle to meet the accelerating demand. The upward momentum of less-polluting forms of transportation uplifted the demand for lithium, a key component in the rechargeable batteries used for electric vehicles and hand held electronics. Data by Reuters indicates auto manufacturers target USD 515 billion for electric vehicles and batteries by 2030, while lithium carbonate prices have already increased by 320% this year. In the meantime, lithium contracts track the increased valuation of the metal, as Autralia’s Pilbara Minerals auctioned its hard rock-sourced lithium for USD 2,350 per tonne, 88% higher than that of July’s auction of USD 1,250 per tonne. The increasing trend in prices has auto manufacturers seek longer-term contracts with miners to secure supplies.
Historically, Lithium reached an all time high of 201000 in November of 2021. Lithium - data, forecasts, historical chart - was last updated on December of 2021.
Lithium is expected to trade at 192384.75 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 177829.00 in 12 months time.