Today, supply exceeds demand in the lithium market, but the situation will change in the coming years.
According to the forecast on global lithium consumption released by the S&P Global Commodity Insights agency, in 2023 the supply may exceed the demand by 61,000 tons. In 2024, the surplus of lithium carbonate will decrease to 41,000 tons, and in 2027, demand will exceed supply by 8,000 tons.
As Interfax notes, if the forecast for lithium shortage turns out to be correct, this situation may become beneficial to Russia: by this time, several lithium projects are expected to be commissioned.
Rosnedra previously reported that production at the Polmostundra (Murmansk region) and Zavitinsky (Zabaikalsky Krai) fields could begin as early as 2025-2026. Russia's largest Kolmozersky field (Murmansk region) is expected to reach full capacity in 2030.
However, new projects will appear in Russia not only for the extraction, but also for the processing of lithium raw materials. The Novosibirsk Chemical Concentrates Plant intends to expand the capacity for the production of lithium salts by 100 tons. A total of 350 tons will be produced.
In addition, the company will start production of metallic lithium. Its capacity will be 1,000 tons per year. The launch is scheduled for 2028.
Alex Shishlo for Rough&Polished
