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Lithium prices hit three-year highs on September 13, fueled by rising demand from the EV industry. Analysts predict a global lithium shortage soon, given its limited supply and rising demand for the metal amid the mass adoption of EVs in major economies. Regarding this, Benchmark Mineral Intelligence Analyst George Miller said, “Things are heating up and there is huge anxiety about where lithium supply is going to come from in the near future.”
Because countries worldwide are investing heavily to phase out fossil-fuel-powered vehicles and replace them with EVs, the demand for lithium is expected to remain strong for the foreseeable future. Consequently, surging lithium prices should boost SQM’s profit margins substantially in the near term.
