Supply / Demand Outlook

Electric vehicle (EV) penetration rates in terms of car sales are rising exponentially and it is anticipated that EV demand will continue to drive demand for all battery metals for at least the next decade. Moreover, the large-scale transition from fossil fuels to lower carbon dioxide producing energy sources, such as solar photovoltaic and wind, and their associated storage systems will further maintain the demand momentum for battery metals as the world aims to limit the global temperature rise to 1.5 C above pre-industrial age levels.

1. World Bank 2017.
2. GLENCORE 2021.
3. 2022 S&P Global Market Intelligence. May 2022 Lithium Report