Lithium market set for long-term uptrend

More needed: Employees make lithium batteries for laptops and other uses in Nantong, China. Producers of power batteries and energy storage will continue to need lithium as the world attempts to pivot to cleaner energy sources. — AFP

BEIJING: China’s lithium industry would benefit from a stabilisation of prices of the battery metal, which is set for a long-term uptrend, says the chairman of Ganfeng Lithium, a major Chinese supplier of the battery metal.

Lithium demand from producers of power batteries, energy storage and others will keep growing amid “an irreversible trend” of global energy transition, Ganfeng Lithium chairman Li Liangbin told Reuters last Friday.