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MIP Insights Revisited: Anticipated Lithium Price Decline Has Been Realized

In early 2023, we predicted a decline in lithium prices from their then-elevated levels. Contrary to the prevailing narratives, we asserted in January 2023 that there would be no mid to long-term lithium shortfall. With an abundance of lithium supply projected to last over a century, we anticipated a drop in prices. Our predictions were spot on, as lithium carbonate prices dramatically fell by 50%, from $83K/mt in January 2023 to $43K/mt by July 2023. This trend was further reinforced by significant lithium discoveries in Iran, which now boasts the second-largest reserve with 9 million metric tons, and in India, with 6 million metric tons.

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