Paul Mylchreest, Mining Analyst at Hardman and Co updates the market on the fundamentals driving demand for lithium, and tells the London South East financial website why now is a good time to be investing in lithium, with supply and demand broadly in balance. Chinese spot prices have been falling, contract demand rising, and Paul 'thinks a genuine change in trend is beginning to happen'.
Lithium is required for the manufacture of rechargeable lithium-ion batteries. The growth in electric vehicles underpins demand. EV's constituted 1 % of the global car market in 2017, and according to Hardman are estimated to take a 15% share by the middle of the next decade. China is the largest EV car market.
Paul talks us through how those positive fundamentals may prove favourable for one of his clients, International Lithium Corp, a TSX-listed Canadian lithium explorer/miner.
