Lithium prices could jump another 30% before year end.
That’s according to SQM (SQM), the world’s largest lithium miner, as noted by Kitco.com. All as strong demand for electric vehicles gains momentum.
“In the lithium business we have only see positive news over the past few months. We saw a strong demand growth for electric vehicles during the first quarter of the year, more than doubling when compared to last year, making us believe that annual demand for lithium chemicals could grow more than 30%, more than expected,” said SQM CEO Ricardo Ramos.
Also, consider this.
For one, governments all over the world want millions of EVs on the roads by 2030. All in an effort to combat climate issues. Two, automakers are starting to abandon internal combustion engines for EVs. There’s just one problem.
There’s more demand than there is supply.
Even the International Energy Agency is warning that the, “The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met.”
With that in mind, keep an eye on top lithium stocks, such as SQM, Albemarle (ALB), Lithium Americas (LAC), Livent Corp. (LTHM), and American Lithium (LIACF).
