Lithium carbonate price 2010-2021

In 2021, the average price of battery-grade lithium carbonate was estimated at 17,000 U.S. dollars per metric ton. Along with 2018, it was the highest figure recorded in a decade. Lithium is a highly reactive soft and silvery-white alkali metal. As the third element in the periodic table, it has 3 protons in its nucleus and three electrons around it. As a result of being highly reactive, it cannot be found in its pure form in nature. Lithium is the least dense of solid elements and the lightest out of all metals.

Lithium and batteries

One of lithium’s most well-known end uses is in lithium-ion batteries. Lithium-ion batteries are rechargeable and mostly used in portable electronics and electronic vehicles. In lithium-ion batteries, the lithium ions move from the negative electrode to positive electrode while in use, and the process is reversed while charging. These batteries are highly flammable but are also low-maintenance. They have a high energy density and a low self-discharge. Some drawbacks include the fact that they are expensive to manufacture, and that they require protection circuits to maintain the voltage safely. Lithium-ion batteries are also the single-largest end use of lithium, amounting to a 74 percent share of global lithium consumption in 2021.

Lithium demand forecasts

Looking to the future, lithium demand is forecast to double in the second half of the decade, surpassing two million tons by 2030. This growth will be mainly driven by lithium-ion battery demand for electric vehicles. Demand is expected to remain the highest in China, which will consistenly account for half of global lithium-ion battery demand.