Albemarle, the world's largest lithium producer, expects high prices for the key battery metal to persist for years even as it has sparked a rush to expand supply. The lithium market collapsed between 2018 and 2020 due to oversupply, while demand was hit after EV subsidies were cut. During that period, its price fell from $25,000/mt to below $6,000/mt, according to Benchmark Mineral Intelligence. But Eric Norris, head of Albemarle's lithium division, said the metals market had fundamentally shifted following a surge in electric vehicle sales.
Albemarle is Betting that Lithium Prices Will Remain High
- Dec 30, 2022, at 10:43 am
Albemarle, the world's largest lithium producer, expects high prices for the key battery metal to persist for years even as it has sparked a rush to expand supply.
