The world's largest lithium producers told a major industry conference this week they remain bullish on long-term demand for the electric vehicle battery metal despite the recent price plunge that has forced layoffs and curtailed expansions.
"We're not scared off by low prices, and we're not drawn in by high prices." Fastmarkets data show, for example, that US demand for lithium will increase 29% each year through 2030, with jumps also expected throughout the rest of the world.
Anticipating an exponential growth in the global demand for lithium to produce electric car batteries, the project will spread across 45,000 acres on Bristol and Cadiz dry Lakes in the Mojave Desert. (Photo by David McNew/Getty Images)
The bearish sentiment has affected more than just lithium producers. Lithium Royalty Corp (LIRC.TO), a lithium investor, has lost more than 37% of its value since listing in Toronto earlier this year. The Global X Lithium & Battery Tech ETF (LIT.P) has dropped 18% this year.
Albemarle, the world's largest lithium producer, started the conference with a stark warning about "concerning" lithium prices, but then mapped out a plan to auction off supplies of its metals to the highest bidder and struck a hopeful tone on demand later this decade.
The U.S. lithium industry secured major wins in 2024. The Biden administration gave final approval to Ioneer’s Nevada lithium mine at Rhyolite. The project will also be the recipient of a $700 million loan from the Department of Energy to build an on-site lithium carbonate processing facility.
Lithium producers bullish on long-term demand despite recent …
The world''s largest lithium producers told a major industry conference this week they remain bullish on long-term demand for the electric vehicle battery metal despite the …
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Lithium producers bullish on long-term demand …
The world''s largest lithium producers told a major industry conference this week they remain bullish on long-term demand for the electric vehicle battery metal despite the recent price plunge that has forced layoffs …
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Lithium producers bullish on long-term demand despite recent
The world''s largest lithium producers told a major industry conference this week they remain bullish on long-term demand for the electric vehicle battery metal despite the recent price plunge that has forced layoffs and curtailed expansions.
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