Crowded herd of lithium explorers faces culling as supplies rise
Prices have little upside, because demand growth has met aggressive build-up
Toronto
THE crowded field of explorers fighting for capital to produce lithium faces a painful reckoning as supplies build and prices flatten, leaving those with low costs and powerful partners still standing, industry consultants say.
Prices of the critical component in rechargeable batteries used in electric cars and mobile phones spiked last year and demand is projected to soar 60 per cent to 300,000 tonnes of lithium carbonate equivalent (LCE) annually by 2020, National Bank Financial said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply