The lithium price collapses after its 2022 peak

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Lithium carbonate prices, having risen roughly an order of magnitude to a peak in late 2022 on the strength of electric vehicle demand and constrained supply, fall very steeply through 2023 and into 2024 as Australian, Chinese and South American capacity arrives. High-cost operations suspend production, exploration companies fail, and several announced refineries are deferred. The episode is a compact lesson in how mineral markets differ from manufactured goods: the demand trend barely changed, and the price moved by a factor of several in both directions within about two years, because supply responds on a timescale of years while price responds on a timescale of weeks.

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Energy TransitionFuture

Evidence · 1

Global Critical Minerals Outlook (annual series)

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Connections · 3

Lithium (as breeding feedstock)concerns
Critical minerals for the energy transitionconcerns
Lithium-ion battery storageconcerns

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/atlas?object=EVT_LITHIUM_PRICE_COLLAPSE_2023_2024