UBS Raises Lithium Price Forecasts

UBS, a top global investment research firm, recently released a report significantly raising its price forecasts for spodumene and lithium carbonate, identifying the market as entering its third lithium price supercycle, primarily driven by the surge in demand from electric vehicles and energy storage. The report highlights Chinese lithium companies such as Tianqi Lithium and Ganfeng Lithium, but industry insiders believe their assessments of supply capacity are conservative and overestimate energy storage demand.

Spodumene: 2026 price forecast raised by 74% to $3131/ton, 2027 expected at $3469/ton.

Lithium Carbonate/Lithium Hydroxide: 2026 price forecasts both raised by 58% to $26,000/ton.

High lithium prices may suppress energy storage battery costs, and the actual surge in demand remains questionable.