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The spot price of lithium carbonate rose from CNY 33,000 to a high of CNY 597,500 between November 2020 and November 2022. The price has fallen back to its current level of CNY 72,500, an 88 per cent decline from the November 2022 peak. Here is an overview of lithium’s supply and demand dynamics, key producers and consumers, developments in Canada, and price outlook.) in metric tons and global per cent are Australia , Chile , China Argentina and Brazil .
Lithium in Chile and Argentina is extracted from brine whereas in Australia it is mined from the mineral spodumene which contains up to 8 per cent Li2O .tells us Canada currently has an estimated 3.2 million metric tons of lithium oxides resources at hard rock deposits and lithium brines in Alberta and Saskatchewan could increase these resources as technology and processing are advanced.The dominant use of lithium is in batteries, accounting for 87 per cent of global consumption in 2023.
Research also continues into alternative battery technologies, which if successful would reduce lithium demand. The current suite includes sodium-ion batteries which utilize more abundant sodium but offer lower energy density, solid-state batteries that promise higher energy density and safety but are still in development and magnesium-ion batteries that have the potential for higher energy density.We are seeing a range of pricing for 2025 and 2026 based on supply/demand expectations.
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