Revisions to the outlookSince the March 2024 Resources and Energy Quarterly, the forecast for Australia’s lithium earnings has been revised down from $11.3 billion to$9.9 billion in 2023-24 and down from $9.5 billion to $6.6 billion in 2024–25. This is due to a lower price forecast for lithium spodumene (see Pricessection), weakness in global EV demand growth, and lower volumes fromthe pause in ramp up for Wodinga’s train three (see Australia section).Ramp-ups in lithium hydroxide production were also slower thanpreviously forecast. The relationship between the benchmark price andexport price has been recalibrated as contracted spodumene increasinglytrades at spot price.
https://www.industry.gov.au/publications/resources-and-energy-quarterly-june-2024
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