📊 Lithium returns to structural deficit.

According to J.P. Morgan, the surge in energy storage system (ESS) demand is reshaping the market. Shipments are projected to rise +50% in 2025 and +43% in 2026, with ESS now representing 30% of total lithium demand.

After months of oversupply concerns, spodumene prices have rebounded from $800/t to $950/t. J.P. Morgan has raised its long-term forecast from $1,100 to $1,300 per ton, a level required to restart idle capacity and sustain new investments.

🔋 The lithium narrative is evolving — beyond electric vehicles, grid-scale storage and structural supply deficits are driving the next phase of the global energy transition.
Rio Tinto CODELCO – Corporación Nacional del Cobre de Chile SQM Albemarle Corporation Ganfeng Lithium LATAM CATL Contemporary Amperex Technology Thuringia GmbH Lithium Americas Corp. Lithium de France Lilac Sungrow Power Supply Co., Ltd. Enel Green Power Fluence The AES Corporation