{"id":7996,"date":"2024-04-03T05:57:06","date_gmt":"2024-04-03T05:57:06","guid":{"rendered":"https:\/\/economicherald.net\/?p=7996"},"modified":"2024-04-03T05:57:06","modified_gmt":"2024-04-03T05:57:06","slug":"eye-on-lithium-spot-price-up-but-latest-federal-government-lithium-forecast-is-a-mixed-bag","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7996","title":{"rendered":"Eye on Lithium: Spot price up, but latest Federal government lithium forecast is a mixed bag"},"content":{"rendered":"<p>Where\u2019s lithium at today?\u00a0We\u2019ll start with the Chinese-flavoured \u201cspot price\u201d.<\/p>\n<p>Lithium Price Bot says\u2026 that actually the lithium carbonate pricing is up a fraction over the past 24 hours. In fact, it\u2019s up over the past 48 hours, increasing its YTD rally to 12%.<\/p>\n<p>Spod, however, is intraday flat.<\/p>\n<p>\u00a0<\/p>\n<p>2024-04-03<a href=\"https:\/\/twitter.com\/hashtag\/Lithium?src=hash&amp;ref_src=twsrc%5Etfw\">#Lithium<\/a> Carbonate 99.5% Min China Spot<\/p>\n<p>Price: $15,324.90<br \/>1 day: $41.40 (0.27%) <br \/>YTD: 12.01%<a href=\"https:\/\/twitter.com\/hashtag\/Spodumene?src=hash&amp;ref_src=twsrc%5Etfw\">#Spodumene<\/a> Concentrate (6%, CIF China)<\/p>\n<p>Price: $1,135.00<br \/>1 day: $0.0 (0.0%) <br \/>YTD: -13.69%<\/p>\n<p>Sponsored by <a href=\"https:\/\/twitter.com\/portofino_POR?ref_src=twsrc%5Etfw\">@portofino_por<\/a><a href=\"https:\/\/t.co\/9GzDfr2z10\">https:\/\/t.co\/9GzDfr2z10<\/a><\/p>\n<p>\u2014 Lithium Price Bot (@LithiumPriceBot) <a href=\"https:\/\/twitter.com\/LithiumPriceBot\/status\/1775388048437416146?ref_src=twsrc%5Etfw\">April 3, 2024<\/a><\/p>\n\n<p>Chinese <a href=\"https:\/\/twitter.com\/hashtag\/lithiumstocks?src=hash&amp;ref_src=twsrc%5Etfw\">#lithiumstocks<\/a> continue their rally on growth of lithium spot prices and futures. ASX peers are sluggish on negative spillover from Wall Street (strong macro data diminishes chances for Fed rate cuts). <a href=\"https:\/\/t.co\/lOC5gOpWVb\">pic.twitter.com\/lOC5gOpWVb<\/a><\/p>\n<p>\u2014 Andrey Prykhodko (@Andr_rej) <a href=\"https:\/\/twitter.com\/Andr_rej\/status\/1775067984605679866?ref_src=twsrc%5Etfw\">April 2, 2024<\/a><\/p>\n\n<p>\u00a0<\/p>\n<p>Meanwhile, how about some official, gov-compiled predictions and outlooks? The Aussie government, via the Federal Department of Industry has delivered a bit of a mixed bag for the battery metal in chief. Let\u2019s take a quick squizz\u2026<\/p>\n<p>\u00a0<\/p>\n<h2>Holding out for a lithium price recovery<\/h2>\n<p>The Federal Department of Industry\u2019s March quarter resources and energy quarterly report was released last week and it goes into some detail about the effect the tanking lithium commodity prices last year had on lithium miners.<\/p>\n<p>It\u2019s nothing regular readers of <em>Stockhead<\/em> don\u2019t know, but weak lithium prices, details the report, has seen most lithium miners reduce production and stockpile with the aim of holding out for a decent price recovery.<\/p>\n<p>According to the government report, lithium export earnings are \u201cpredicted to fall from A$21 billion in 2022-23 to A$9 billion in 2028-29 (in real terms)\u201d, with the caveat that \u201cprices are difficult to forecast given the rapid pace of supply and demand growth\u201d.<\/p>\n<p>It also cites the uncertainty of forecasting due to the fact lithium is so tied to the EV demand and uptake narrative.<\/p>\n<p>\u00a0<\/p>\n<p>Source: Resources and Energy Quarterly, March 2024<\/p>\n<p>\u00a0<\/p>\n<p>Does it have any more positive opinions than that, though?<\/p>\n<p>The department does think that \u201ca projected 70% increase in Australian lithium production over the period should partially offset the impact of lower prices\u201d, and that a \u201cmodest recovery in the lithium prices over 2024 and 2025\u201d is also likely.<\/p>\n<p>Also, the Aussie government thinks the lithium spodumene price should rise to about US$1,360 a tonne by 2026.<\/p>\n<p>Look, it ain\u2019t much, but we\u2019ll take it.<\/p>\n<p>It, however, predicts a fall to about US$1,090 a tonne by 2029. Because: \u201cfrom 2026, alternate battery chemistries could place some price pressure on lithium-ion EV batteries.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>ASX lithium form guide<\/h2>\n<p>We\u2019re borrowing one from Market Index today\u2026 intraday gainers at close of play.<\/p>\n<p>Source: Market Index. (Thanks, Market Index)<\/p>\n<p>\u00a0<\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/eye-on-lithium-spot-price-up-but-latest-federal-government-lithium-forecast-is-a-mixed-bag\/\">Eye on Lithium: Spot price up, but latest Federal government lithium forecast is a mixed bag<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Where\u2019s lithium at today?\u00a0We\u2019ll start with the Chinese-flavoured \u201cspot price\u201d. Lithium Price Bot says\u2026 that actually the lithium carbonate pricing is up a fraction over <a href=\"https:\/\/economicherald.net\/?p=7996\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7997,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Eye on Lithium: Spot price up, but latest Federal government lithium forecast is a mixed bag - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=7996\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eye on Lithium: Spot price up, but latest Federal government lithium forecast is a mixed bag - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Where\u2019s lithium at today?\u00a0We\u2019ll start with the Chinese-flavoured \u201cspot price\u201d. 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