Lithium manufacturers expect demand for lithium-ion batteries to grow by 4% this year.

SMM7: although the government has used a stimulus package to stimulate the electric vehicle industry, the expansion of the project has been delayed and the price of lithium will remain at a multi-year low, battery makers said.

Australian manufacturer Pilbara Minerals Ltd. Demand for lithium raw materials for electric car batteries is likely to rebound faster than expected, and some signs have indicated that prices may be close to the bottom, according to a statement.

At present, stricter emissions regulations, coupled with green stimulus packages and accelerating the spread of electric vehicles in Europe, could increase demand for lithium-ion batteries by 4 per cent this year. Supply is expected to remain tight but balanced in 2020 and the coronavirus will have a more significant impact in 2021 as producers rein in capital expenditure and investment, the report said.

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