Last week, US-based lithium giant Albemarle lifted its forecasts for lithium demand by about 15 per cent, putting demand at 1.8 million tonnes and demand in 2025 and at 3.7 million tonnes in 2030, up from 0.8 million tonnes in 2022.
The biggest swing factor: electric vehicles
The Biden administration’s Inflation Reduction Act, which includes big incentives for renewable energy including batteries, has contributed to Albemarle’s new demand estimate.
But the biggest swing factor…
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