In 2022, the average price of battery-grade lithium carbonate stood at 71,000 U.S. dollars per metric ton. This figure is by far the highest price for battery-grade lithium carbonate recorded in the period of consideration. For 2024, lithium carbonate price was estimated at 14,000 U.S. dollars per metric ton. 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. Because it is 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 an 87 percent share of global lithium consumption in 2024. Lithium demand forecasts Looking to the future, lithium demand is forecast to stand at 1.4 million tons by 2025. 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 consistently account for half of global lithium-ion battery demand.

During the last quarter of 2024, the lithium carbonate prices in the USA reached 10,842 USD/MT in December. As per the lithium carbonate price chart, due to excess and little demand, the market saw fluctuations. At first, prices stayed constant, but when supply exceeded demand, they began to decline. The market was soon dominated by lower-priced cargoes after a brief price spike brought on by expensive imports.

Explore IMARC’s newly published report, titled “Lithium Carbonate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of lithium carbonate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

In April 2023, the price of Lithium Carbonate was reported at $67,831 per ton (CIF, Japan), a 1.6% increase compared to the previous month.

In July 2022, the lithium carbonate price per ton amounted to $10,401, declining by -6.2% against the previous month.

The total cost of producing battery grade lithium carbonate by 2025 is expected to amount to approximately 4,165 and 5,500 U.S. dollars per ton of lithium carbonate equivalent from brine and spodumene, respectively. For the production of battery grade lithium carbonate from spodumene, the highest costs are forecast to be allocated in the processing of this mineral.

In 2025, the price of 99% lithium carbonate is projected to be around 7.60 U.S. dollars per kilogram.

Growing global lithium demand

There has been a steady increase in battery demand globally, which in turn becomes a strong driver of lithium usage in the future. However, producers have been unable to keep up with the demand. In 2025, global lithium demand is expected to reach 4,450 metric tons of lithium carbonate equivalent for non-rechargeable batteries. The 2018 annual average price of battery-grade lithium carbonate was 17,000 U.S. dollars per metric ton, increased from the 15,000 U.S. dollars in the previous year.

Lithium demand by application Lithium has many end use applications aside from batteries. For example, demand for lithium in ceramics is anticipated to reach 51,788 metric tons of lithium carbonate equivalent in 2025. Another example is that the demand for lithium in polymers is expected to grow to 12,624 metric tons of lithium carbonate equivalent by 2025, from the 2018 demand which was 9,873 metric tons.

In May 2023, the price of Lithium Carbonate was $13,739 per ton (CIF, Germany), experiencing a decrease of -30.6% compared to the previous month.

The price of battery-grade lithium carbonate in China surged in 2021 as demand for electric vehicles (EV) rose significantly in the Asian country. The price of one metric ton of battery-grade lithium carbonate stood at more than 43,700 U.S. dollars as of December 31, 2021, representing an increase of nearly 500 percent compared to prices recorded in January of that year.

By 2025, producing battery grade lithium hydroxide globally from brine harvesting will involve, in general, more costs than from spodumene. This is because in the first process it is necessary to produce lithium carbonate as an intermediate product, to later generate lithium hydroxide. It is expected that the difference in production costs between these two processes will amount to almost 1,000 U.S. dollars per ton of lithium carbonate equivalent.

In September 2022, the lithium carbonate price per ton stood at $16.3K (CIF, US), surging by 25% against the previous month.

In June 2023, the price of Lithium Carbonate was $46,148 per ton (CIF, Canada), experiencing a significant increase of 473% compared to the previous month.

In February 2023, the lithium carbonate price amounted to $59,733 per ton (CIF, France), increasing by 42% against the previous month.

In 2025, the global demand for lithium is expected to surpass 1.4 million metric tons of lithium carbonate equivalent, a growth of 53 percent in comparison to 2023. Increases in battery demand for electric vehicles will be a strong driver of lithium consumption in the next decade.

Find out the United Kingdom's import price for lithium carbonate in November 2022 and how it compares to previous months. Learn about the major supplying countries and their prices.

The Nigerien lithium carbonate market expanded modestly to $28K in 2024, picking up by 1.7% against the previous year. Overall, consumption, however, recorded a abrupt curtailment. As a result, consumption attained the peak level of $221K. From 2015 to 2024, the growth of the market remained at a lower figure.

In 2023, the amount of lithium carbonates imported into India reduced dramatically to 728 tons, shrinking by -59.8% against the year before.

During the second quarter of 2024, the ethylene carbonate (EC) prices in China reached 878 USD/MT in June, due to the increasing product utilization by manufacturers of lithium-ion battery and disruptions in supply. Prices rose 13% from the previous year and 2% from the last quarter, reflecting steady consumption and ongoing supply constraints.

By 2030, it is anticipated that the global demand for lithium will be more than quadruple, rising from 720,000 metric tons in 2022 to an estimated 3.1 million metric tons. Batteries constituted the predominant end-use of lithium globally.

In January 2024, the average lithium carbonate import price amounted to $42,862 per ton, leveling off at the previous month.

Lithium carbonate imports into South Africa soared to 79 tons in 2023, rising by 204% against 2022 figures.