Rare discounts offered by Chinese battery giant CATL to automakers have accelerated a plunge in lithium prices. lithium mining
Rare discounts offered by Chinese battery giant CATL to automakers have accelerated a plunge in lithium prices, and the market is set to drop a further 25% with supply growth outpacing demand, analysts and traders say.
But even as demand worries have rocked markets, it is the looming supply from China, Australia and Chile that will bring prices back down to earth, analysts say. Out to 2025 it expects lithium supply to grow on average by 34% a year against an annual demand growth rate of 25%. Some, including lithium giant Albemarle, ascribed lower car sales to temporary weakness given the early Lunar New year. Albemarle sees China’s EV market growing 40% this year. But prices have continued to fall.
S&P analysts see the average cash operating cost of lithium carbonate production at $4,563 per tonne LCE and total cash cost $7,540 per tonne LCE, which is a fraction of the prices that analysts are forecasting for lithium carbonate.
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