Ultimately, Goldman is forecasting global lithium demand to grow to ~1,300kt LCE by 2025, but expects lithium production to hit ~1,700kt LCE.
In light of the above, its analysts expect lithium to command the following (per tonne):
- Lithium carbonate
- 2022 US$59,331
- 2023 US$53,300
- 2024 US$11,000
- 2025 US$11,000
- Lithium hydroxide
- 2022 US$67,240
- 2023 US$58,015
- 2024 US$12,500
- 2025 US$12,500
- Spodumene 6%
- 2022 US$4,233
- 2023 US$4,330
- 2024 US$800
- 2025 US$800
If Goldman Sachs is on the money with its estimates, then it could be bad news for developer/explorers that aren't expected to be producing lithium for a couple of years. By the time their operations come on line, they could be dealing with wildly different lithium prices.
Therefore, it might be time to rethink the valuations of lithium shares such as AVZ Minerals Ltd (ASX: AVZ)
Ultimately, Goldman is forecasting global lithium demand to grow...
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