General Discussion Topics, page-141352

The Australian Government’s OCE wrote:“
The forecasts have a high degree of uncertainty, as new producers enter the market around the world and uneven trends in EV demand growth. Lithium prices could respond to unexpected developments in the pace of EV adoption and in other emerging uses, changes in battery technology and government policy, over the outlook period.”
On the other hand, ANZ Research’s Hynes and Kumari were upbeat on the long-term projection of critical minerals, lithium, nickel, and cobalt due to challenges to increase supply. They said:“We see a strong long-term outlook. Supply still needs to increase 1.5-3.5 times over the next five years, a goal not easily achieved.”In its latest commodities market outlook published in April, the World Bank also shared the optimism. The bank expected the prices of critical minerals, including lithium and cobalt, to rise in coming years as demand is anticipated to outpace supply growth due to the expanding use of energy transition, including for EVs, renewable power, and batteries.