Lithium present25 Mar 2022 09:35
Lithium carbonate prices in China were at 497,500 yuan/tonne in late March, marking an 80% gain so far in 2022 amid soaring global demand and supply scarcity. Surging energy prices due to Russia’s invasion of Ukraine strengthened the appeal to transition away from fossil fuels, adding to the booming demand of electric vehicles. After rising 157% to 3.2 million units in 2021, electric vehicle sales in China are expected to cross 5 million in 2022. Also, Deloitte forecasts a 29% compound annual growth in electric vehicle sales, totalling 32% of new car sales by 2030. At the same time, reports from Mineral Benchmark Intelligence indicate that Chinese lithium inventories remain low. The difficulty for miners to find new sources or develop new technologies to source lithium from brines make producers unable to match higher demand. Lithium’s supply deficit is estimated to expand to 26,000 in 2022 and 300,000 by 2030.
All good in my book
Acker