Lithium is expected to trade at 71390.75 CNY/T by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 68164.50 in 12 months time.
Daily Metal Spot Prices Lithium Price (USD / Metric Ton) for the Last Day. Use this form to dynamically generate a table that show metal prices in the units of your choice for the duration specified. Simply select a metal and a unit to display the price.
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Lithium Price Chart (USD / Pound) for the Last Available years. Use this form to dynamically generate charts that show metal prices in the units of your choice and for the specified date range (if available). Simply select a metal and a unit to display the price.
Lithium is mainly used for energy storage such as batteries for electric vehicles and sustainable energy generation. Lithium price is based on supply and demand in the market. The price of Lithium is expected to rise substantially in coming years as the world moves further towards using green energy and lower carbon industry.
For most people in previews decades, lithium was either a controversial treatment for brain disorders or a song by Nirvana. But it is unique because it is the lightest known metal. In the 1790s, a Brazilian naturalist discovered the mineral called petalite on an island in Sweden. This mineral us usually white to grayish in color, but when it''s thrown into a fire it flares into bright red.
Then in 1817, a chemist in Sweden found that petalite contained a previously unknown element. While he was able to isolate one of the salts, he failed to isolate the mineral completely. He did, however, name it lithium which meant "stone" in Greek. It was in 1855 when a British and a German chemist were able to separate the metal entirely. This discovery led to the commercial production of lithium metal which began in Germany in 1923.
Two factors determine the price of lithium, and first we need to consider abundance. There''s only as limited supply of this element, because it only makes up 0.0007 percent of the Earth''s crust. Chile produces most of the element for the world market, with Australia coming in second. In the US you can only find a single mine in the whole country. It doesn''t occur naturally in elemental form, either.
With such a limited supply, any increase in demand can truly boost the price of the metal in the world market. And that''s happening right now because of the current success of the Tesla car company. The electric car industry is rising like a phoenix, with Apple and Google poised to launch their own versions soon. Even the Chinese, with the billionaire Jia Yueting leading the way, will also enter the scene with a billion-dollar factory set for car production by 2017.
What these things all mean is that the demand for lithium-ion batteries will rise even further. The price of lithium carbonate is up by 47% from 2015 and the year 2017 will see increased sales of pure electric cars. Add the fact that Li-ion batteries are also used for mobile devices such as smartphones, tablets, laptops, and other wearable devices, and the demand for the commodity will surely increase as well.
There are generally two ways to invest in this metal. You can directly buy stocks in companies involved in lithium mining or in Li-ion battery production. Or you can get involved in funds that invest in companies of this type.
The success of your investment will depend on the sustained popularity of mobile devices and the increased popularity of electric cars. All these devices need Li-ion batteries, and as such the demand for the metal will skyrocket. The global market for these batteries was $11.7 billion back in 2012. By the end of 2016, that''s expected to double to $22.5 billion.
According to the US Geological Survey, with the current global production of 37,000 tons a year, mankind has enough reserves for 365 years—if current demand remains the same. But experts predict that by 2040 the world will need 800,000 tons of lithium for just battery production alone!
About Lithium cost per tonne
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