Will Record Lithium Prices Continue?
April 4, 2023 ⚊ 1 Min read ⚊ Views 70 ⚊ NEWS
Lithium prices have increased to their highest in more than three years due to strong demand in electric vehicle sales. Increasing air pollution across emerging economies has accelerated the shift towards electric vehicles (EV). Spot prices for lithium carbonate in China have climbed 170% so far this year to 142,000 yuan ($22,000) a tonne. Prices of spodumene, a source of lithium mainly mined in Australia, have climbed over 140% this year to $990 a tonne.
Over the last two days, lithium stocks were in action as Pilbara Minerals, a strong lithium player announced that it had secured an offer of $US2240 per tonne for a parcel of the lithium-rich spodumene concentrate produced in Western Australia. The price is double the $US1,250/tonne received via the inaugural auction held in late July.
