Research Briefing | Jun 13, 2023

Lithium, cobalt and palladium prices forecasts

Price forecasts for lithium, cobalt and palladium are now added to our Global Climate Service. This valuable enhancement will enable you to more effectively monitor commodity prices, particularly in the context of the ongoing energy transition. We forecast global electric vehicle (EV) penetration will steadily increase to 40% in 2030 from 13% in 2022. 

What you will learn:

  • The combination of a strong demand outlook for EVs and high lithium and cobalt prices in the past has attracted a considerable amount of capital to build supply.
  • As a result, we expect lithium and cobalt prices to remain subdued in the short term.
  • Palladium’s biggest end use is in gasoline-powered vehicles’ catalytic converters. We expect production of this type of vehicle will steadily fall in the future.
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