Market Trends
Recent reports indicate a renewed uptrend in lithium prices, crucial for battery production and electric vehicle (EV) manufacturing. As of September 2024, lithium carbonate has shown significant fluctuations, with prices nearing historical highs due to increased demand driven by the ongoing EV boom and global push for renewable energy solutions. The demand for lithium is fueled by the significant growth in battery storage capacity and the commitment of major automotive manufacturers to transition to electric models.
Data from Benchmark Mineral Intelligence highlights that lithium prices have surged by over 25% in the last quarter alone, reaching approximately $80,000 per tonne. This increase is reflective of supply chain challenges and geopolitical tensions affecting mining and processing locations.
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