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Polar Lithium expects continued price growth for lithium

The demand for lithium is expected to grow by approximately two times by 2030 and by more than 2.5 times by 2035

MOSCOW, January 27. /TASS/. Lithium prices turned to growth in 2025 and such dynamics will continue, Chief Metallurgist of Russia’s Polar Lithium company Alexander Letyushov said.

"Concerning the market, in 2025 [lithium] prices not merely stabilized but even started growing. Prices surged by about two times by the end of the year. The price hike is also expected further on; this is because international analysts forecast further demand growth," he noted.

The demand for lithium is expected to grow by approximately two times by 2030 and by more than 2.5 times by 2035, Letyushov said. This is related in part to the deficit of mineral concentrates of lithium. The deficit of mineral spodumene concentrates is expected to be about four million metric tons by 2030, he added.

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