Commodity Market Report
Global lithium short-term outlook July 2023
Report summary
Lithium prices saw small declines in July as the market settled into a "new normal" after the destocking that took place earlier in the year. Looking forward, we expect prices to see a gradual but controlled decline as the market enters a period of relative balance. Towards the second half of 2024 we expect supply growth to exceed demand growth and the market will be heading toward a period of oversupply. As a result, prices are forecast to continue the gradual decline.
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