Lithium prices to lift after 2021
The lithium hydroxide price (delivered to China) eased by 18% in the December quarter, coming down to US$7,750/t – over the year 2019, the fall was 49%.
The report said prices should rise by 2025 to around US$10,400/t on the back of higher electric vehicle sales, with shortages of this chemical possible by 2023.
Global lithium consumption is projected to rise from 291,000t in 2019 to around 750,000t by 2025
As for Australia, there is expected to be a strong rise in spodumene ore output in 2022 and 2023.
“Spodumene production in Australia has scaled back sharply in recent quarters, but capacity to refine lithium hydroxide is ramping up,” the report noted.
This country’s export earnings are projected to more than double by 2025 as world battery production increases and the
demand for lithiumhydroxide leads to supply shortages.
https://*********.com.au/outlook-mining-metals-2020-covid-19-hit/
As horrible as this Covid-19 global pandemic is, and seems destined to remain with us for quite some time yet, it’s good to review some of the price forecasts for lithium in what is, hopefully, to become a post Covid world in the next few years. Lithium remains a strong contender for price recoveries throughout the decade, and Galaxy seems to be continuing on its course to delivering quality projects for the increase in lithium demand and supply shortages in the future. Within this phase of the pandemic, share price opportunities are presenting, and the world will still look the same, however, at the same time, very different.
Hopefully, this pandemic will be a one in 100 year event, where things are strange, people and businesses are struggling, and dodging the virus is becoming a daily event. We hope to all stay well, and financially viable, as life eventually reverts back to a better state of normal. It’s like we’re all confined to our home states, with nowhere really to go, the likes of nothing that many of us have ever experienced before. We are fortunate enough, though, to be interested in watching our favourite companies and sectors in the share market, and having an ongoing means to make money into the future.
I always enjoy watching the antics around Galaxy, and the share price movements over preceding months.
Life is always better-on turbo charge- with a bit of music, and Galaxy is still here with us.
This state of world affairs cannot last forever. Best wishes and kind thoughts to the victims of recent tragic circumstances in the world.
