Lithium fell to 71,350 CNY/T on August 1, 2025, down 0.90% from the previous day. Over the past month, Lithium's price has risen 15.73%, but it is still 10.25% 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 August of 2025.

This statistic shows the forecasted price of spodumene from 2016 to 2020. It is forecasted that in 2020, spodumene will cost *** U.S. dollars per metric ton, an increase from the forecasted price in 2016 of *** U.S. dollars per metric ton. Spodumene is a mineral from which lithium can be produced.

As of July 2025, the leading mining company with lithium operations listed on the Australian Securities Exchange (ASX) was Mineral Resources Ltd, with a market capitalization of around **** billion Australian dollars. Pilbara Minerals Ltd followed, with a market capitalization of **** billion dollars. Pilbara Minerals Pilbara Minerals’ Pilgangoora mine, located in Western Australia, is one of the largest hard-rock lithium mines in the world. In the 2024 financial year, Pilbara Minerals’ revenue reached **** billion Australian dollars. The company’s production volume of lithium spodumene concentrates amounted to just over *** thousand dry metric tons in 2024. Australia’s lithium trade Australia plays a vital role in the global lithium market. While fiscal year 2023 saw a relatively high export value of lithium from Australia, primarily due to high production volumes and global demand, this decreased in the following years. Most of Australia’s lithium mines are in Western Australia. In 2024, China was the major export destination for Western Australian lithium spodumene concentrate. As the country explores more mid-stream lithium processing opportunities, it remains to be seen if China will still be the nation’s leading lithium trade partner.

The total cost of producing battery grade lithium carbonate by 2025 is expected to amount to approximately ***** and ***** 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.

The lithium market is experiencing explosive growth, driven by the burgeoning electric vehicle (EV) industry and the increasing demand for energy storage solutions. With a Compound Annual Growth Rate (CAGR) of 19.57% from 2019 to 2033, the market's value is projected to significantly expand. This robust growth is fueled by several key factors. Firstly, the global transition towards cleaner energy sources is heavily reliant on lithium-ion batteries, making lithium a critical raw material. Secondly, advancements in battery technology are increasing energy density and reducing costs, further stimulating demand. Government incentives and policies supporting EV adoption and renewable energy infrastructure are also playing a crucial role. However, the market faces challenges such as supply chain constraints, geopolitical risks associated with lithium production concentration, and environmental concerns related to lithium mining. The market is segmented by various factors including battery chemistry (e.g., LCO, NMC, LFP), application (e.g., EVs, energy storage systems, portable electronics), and geographic region. Major players like Albemarle Corporation, SQM SA, and Ganfeng Lithium Co Ltd are fiercely competing to secure market share, engaging in strategic partnerships, mergers and acquisitions, and capacity expansions to meet the escalating demand. The market's future trajectory hinges on overcoming supply bottlenecks, achieving sustainable mining practices, and the continued technological advancements in battery technology. Despite challenges, the forecast for the lithium market remains remarkably positive. The increasing affordability and accessibility of electric vehicles, combined with the growing adoption of renewable energy technologies, point towards a continued surge in lithium demand throughout the forecast period (2025-2033). Regional variations in market growth will likely be influenced by factors such as government policies, infrastructure development, and the presence of established lithium mining and processing industries. It is crucial for market participants to proactively address the environmental and social responsibilities associated with lithium extraction to ensure the long-term sustainability of this vital industry. The strategic positioning of key players, coupled with continuous technological innovations in battery technology and recycling processes, will play a pivotal role in shaping the future of the lithium market. Future research will likely focus on improving extraction methods, developing alternative lithium sources, and optimizing battery performance for maximum efficiency and sustainability. Recent developments include: May 2022: Mineral Resources marked a significant milestone in its lithium growth strategy with the first new spodumene concentrate delivered at the Wodgina Lithium Project in the Pilbara region of Western Australia., April 2022: SQM SA planned to invest USD 900 million in 2022 as part of its plan to increase lithium carbonate and hydroxide production capacity. The company has plans to enhance lithium carbonate production capacity to 180,000 metric ton per annum in the future. Furthermore, the capacity is likely to reach 210,000 tons by early 2023., April 2022: Avalon Advanced Materials Inc. signed an agreement with RenJoules International Ltd, an Essar Company, to become a strategic partner and co-developer in support of Avalon's plans to establish a regional lithium battery materials supply chain. This agreement may fulfill the needs of upcoming electric vehicle and battery manufacturers in Ontario and other regions.. Key drivers for this market are: Accelerating Demand for Electric Vehicles, Increasing Usage and Demand by Portable Consumer Electronics; Other Drivers. Potential restraints include: Accelerating Demand for Electric Vehicles, Increasing Usage and Demand by Portable Consumer Electronics; Other Drivers. Notable trends are: The Battery Application Segment to Dominate the Market.

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.