A note from our besties at JP Morgan, d-bags. Guess they're finally pushing the throttle:JP Morgan declared on Monday that the price boom had much further to run, predicting spodumene concentrate prices would average $US4491 per tonne in 2022 and $US5000 per tonne in 2023 before easing to $US3463 per tonne in 2024.
JP Morgan had previously estimated that spodumene prices would average $US850 per tonne long term, but changed that forecast to $US1000 per tonne this week in the belief that less prospective geology would need to be mined to meet future demand for lithium.
“Our supply and demand modelling reveals a perpetual deficit market where low grade mine supply will need to be induced,” said JP Morgan in a note.
Spodumene Prices, page-2264
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