Bank sees glutted lithium and cobalt markets
Lithium and cobalt prices will fall next year due to glutted demand, analysts at Macquarie said. The bank forecast cobalt prices FOB Rotterdam at $12.02/lb in 2015, compared to $15.36 this year and $17.56 in 2023. Lithium carbonate prices were forecast for $10,777/t, down from $12,579 in 2024 and $38,039 in 2023. For lithium, Macquarie said, "prices have continued to drift lower across all chemistries and exchanges as inventories continue building in China".
"Key issues are affordability following the end of subsidies in certain countries, high financing costs and access to public chargers.""This has resulted in carmakers scaling back their EV plans, including Ford, General Motors, Toyota, Mercedes-Benz, Porsche and Volkswagon, with Volvo the latest to abandon its plan to only produce EVs by 2030."Cobalt bear marketCobalt prices are still in a bear market, with supply continuing to outstrip demand.
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