Lithium prices may finally be bottoming out.
For one, should we see a stronger green energy boom and a global recovery in electric vehicle sales, lithium prices should explode even higher.
Two, analysts at Fastmarkets say demand for lithium in the U.S. could grow by 487% to 412,000 tonnes by the time 2030 rolls around. Should that happen, a shortage of supply coupled with explosive demand will lead to another massive spike in lithium.
In addition, according to the United Nations Conference on Trade and Development, demand for metals, such as lithium is “on track” to outpace production through 2050.
One of the top stocks to keep an eye on is Albemarle (ALB).
While it missed its first-quarter profit estimate with its latest earnings, that’s to be expected when lithium prices plummet about 80%. However, with lithium showing signs of finally bottoming out, ALB could push higher again.
Sincerely,
Ian Cooper
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