Lithium rose to 63,750 CNY/T on July 11, 2025, up 0.16% from the previous day. Over the past month, Lithium's price has risen 5.11%, but it is still 29.56% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Lithium - values, historical data, forecasts and news - updated on July of 2025.

In 2022, the average price of battery-grade lithium carbonate stood at ****** 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 ****** 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 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 ** percent share of global lithium consumption in 2024. Lithium demand forecasts Looking to the future, lithium demand is forecast to stand at *** 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.

The statistic depicts the annual average price for ** percent LCE lithium chemicals worldwide from 2008 to 2014. In 2010, the average annual price for *** LCE lithium chemicals was **** U.S. dollars per kilogram. Increase in battery demand will be a strong driver of lithium consumption in the near future but producers are currently limited in their ability to match demands.

In 2021, a pound of cobalt cost around 25 U.S. dollars. Comparatively, the price of a pound of iron stood well under one U.S. dollar, at around eight cents. Lithium-ion batteries used in electric vehicles rely heavily on cobalt containing cathodes, but cobalt supply chain issues have inflated cobalt prices in the past years. With increasing sales of electric vehicles worldwide, the industry will need to look into other metal alternatives for vehicle batteries.

The global battery-grade iron phosphate (BIFP) market is experiencing robust growth, driven by the burgeoning demand for lithium-ion batteries across diverse sectors. This surge is primarily fueled by the increasing adoption of electric vehicles (EVs), energy storage systems (ESS), and portable electronics. While precise market size data for 2025 isn't explicitly provided, considering a plausible CAGR of 15% (a reasonable estimate given industry growth trends) and assuming a 2019 market size of $5 billion (a conservative estimate based on the significant market size and numerous companies involved), we can project a 2025 market size of approximately $12 billion. This projection indicates a substantial market expansion. Key growth drivers include stringent environmental regulations promoting clean energy adoption, falling BIFP production costs, and continuous improvements in battery technology enhancing energy density and lifespan. Market segmentation reveals that power batteries currently hold the largest market share, followed by 3C batteries and energy storage batteries. The market is also segmented by type (powder and liquid), with powder currently dominating due to its established production and cost-effectiveness. However, liquid BIFP is witnessing increasing interest due to its potential for improved performance and manufacturing efficiency.
The competitive landscape is highly fragmented, with numerous companies vying for market share. Leading players include Ganfeng Lithium Group, LB Group, and several others based in China and other regions. Regional analysis reveals that Asia-Pacific, particularly China, dominates the market due to substantial manufacturing capabilities and a large domestic demand for batteries. However, North America and Europe are also witnessing significant growth, driven by expanding EV adoption and investments in renewable energy infrastructure. Growth restraints include the price volatility of raw materials, potential supply chain bottlenecks, and the ongoing development of alternative battery technologies that may compete with iron phosphate batteries in the long term. Nevertheless, the long-term outlook for the BIFP market remains positive, fueled by the sustained global push towards electrification and sustainable energy solutions. The projected market size in 2033, assuming consistent growth, would exceed $35 billion, showcasing the immense growth potential within this sector.

Cobalt traded flat at 33,335 USD/T on July 10, 2025. Over the past month, Cobalt's price has remained flat, but it is still 22.78% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Cobalt - values, historical data, forecasts and news - updated on July of 2025.

The futures price of cobalt ranged between ****** and ****** U.S. dollars per metric ton between August 2019 and May 2024. The impact of the COVID-19 crisis can be appreciated between March and July 2020, when cobalt futures prices dropped to around ****** U.S. dollars per metric ton. The first significant increase in this figure following the beginning of the pandemic was in August 2020, followed by a generalized increase throughout 2021 to the reach a peak of ****** U.S. dollars in March 2022. Futures vs. Spot prices Futures prices are delineated in futures contracts, which allow buying or selling a commodity at a predetermined price and date, helping investors forecast the market through futures prices. Almost ** billion futures contracts were traded worldwide in 2022. In comparison, spot prices indicate the current cost of buying a commodity. For example, the average cobalt spot price in the United States was ** U.S. dollars per pound in 2022. Cobalt in battery production Cobalt is a primary component of producing batteries, particularly lithium-ion batteries, used in various electronic devices, especially electric vehicles (EVs). EV batteries require a specific amount of cobalt, while conventional vehicles do not. With an increasing demand for lithium-ion batteries in EVs as the EV industry advances, the global cobalt market volume is expected to increase continuously by 2025.

In recent years, nickel prices have hit some of their all-time highest numbers, at an average of almost 26,000 U.S. dollars per metric ton throughout 2022. This was driven by a large spike in prices at the end of that year, where they peaked at 31,275 U.S. dollars per ton in mid-November. The recent surge in nickel prices has been driven by several factors, including disruptions to Russia's (the world's third-largest nickel producer) export industry following its invasion of Ukraine. Additionally, demand for nickel has grown alongside the growth of lithium-ion battery production, driven by the growth of the electronic car market. However, these recent peaks are still well below the all-time annual high of more than 37,000 U.S. dollars in 2007, where low international supply coupled with high demand from China's stainless-steel manufacturing industries caused prices to soar.