Live Lithium Price —
LCE, Spodumene & Hydroxide
Assessed daily prices for LCE, SC6 spodumene, and battery-grade hydroxide. Producer stock quotes. Supply pipeline tracker from our 1,108-asset database. No exchange benchmark exists — all lithium prices are assessed by price agencies.
LCE China spot
▼ −86% from $80,000 ATH
Fastmarkets / SMM · Daily assessed
Spodumene SC6
▼ −90% from $8,000 ATH
CIF China · Fastmarkets · Weekly
Li Hydroxide (LiOH)
+$2,500 premium over carbonate
Battery-grade · NMC use · Daily
SC6 → LCE spread
Positive: refiners in margin
$11,000 − ($800×8.9) · Refinery signal
Market balance
~40k t LCE/yr oversupply
IEA / BloombergNEF · 2026 forecast
Prices & charts
Lithium Price Today — LCE, Spodumene & Hydroxide
Unlike copper (COMEX HG) or gold (LBMA fix), lithium has no exchange-traded benchmark. Prices below are daily assessed prices from Fastmarkets and SMM — not exchange quotes. LCE = lithium carbonate equivalent, the industry standard unit.
Fastmarkets · SMM Wuxi · Battery-grade ≥99.5% · Daily assessed
Lithium Carbonate Equivalent (LCE) — China Spot Price
USD per metric tonne · Current: $11,000/t · ATH $80,000 (Nov 2022) · Trough $7,800 (Feb 2024)
Price summary
All lithium grades
Price spreads
Lithium Price Spreads — Carbonate vs Hydroxide vs SC6 Conversion
Three spreads that signal different things: (1) LiOH premium = high-nickel NMC battery demand health; (2) SC6-to-LCE spread = refinery margin health; (3) China vs ex-China price differential = regional supply chain stress.
SMM · Daily assessed · Battery-grade both
Carbonate vs Hydroxide Spread
Hydroxide premium: +$2,500/t · Historical range: $0 to $15,000+
Calculated · Fastmarkets SC6 × 8.9 vs SMM LCE · Daily
SC6→LCE Refinery Margin
Current: +$3,880/t LCE · LCE spot minus (SC6 × 8.9) conversion value
How to read the SC6→LCE spread
At $800/t SC6 × 8.9 = $7,120/t implied LCE value. With LCE spot at $11,000/t, refiners earn $3,880/t processing margin — refineries are profitable and have no incentive to curtail. When the spread turns negative (SC6 price implies more LCE value than carbonate spot), smelters lose money and begin curtailing — the most direct upstream signal that supply is about to fall.
Refinery capacity
Lithium Refinery Capacity & Utilisation — The Processing Bottleneck
Mine production is only half the story. China controls approximately 65–75% of global lithium chemical refining capacity — the step that converts spodumene concentrate and brine into battery-grade carbonate or hydroxide. Monitoring refinery utilisation rates is one of the most reliable leading indicators in the market: falling utilisation signals either weak downstream demand or tight raw material supply; rising utilisation warns of approaching price pressure before it appears in spot assessments.
~300k t
Peak capacity (2023)
LCE/yr · China lepidolite
~$10k–$11k
Avg cash cost
LCE/t · Most operations
$7,000
Mass curtailment floor
LCE/t at which >70% cuts
Mine supply
Lithium Supply by Country — Production Data
Global lithium mine production data by country. Source: USGS Mineral Commodity Summaries (annual). The mine-to-refinery geographic split is the key structural signal.
USGS Mineral Commodity Summaries · IEA Critical Minerals · Annual
Global Lithium Production by Country (2024)
Tonnes of lithium metal · Annual data · Updated February each year with prior-year data
China processes 65–75% of global output regardless of mine origin
Most Australian SC6 ships to Chinese refineries (Ganfeng, Tianqi). Chilean brine is partially processed domestically and partially exported as carbonate to Asian refineries. Supply chain dependence on Chinese refining is the strategic vulnerability that US and EU policy frameworks are attempting to address through domestic refining incentives.
| Country | 2024 (t Li) | % world | Source type |
|---|---|---|---|
| Australia | 92,000 | 38% | Hard rock |
| Chile | 47,000 | 20% | Brine (Atacama) |
| China | 43,000 | 18% | Lepidolite, hard rock |
| Argentina | 14,000 | 6% | Brine (salares) |
| Brazil | 11,000 | 5% | Hard rock |
| Zimbabwe | 7,000 | 3% | Hard rock |
| Canada | 1,500 | 1% | Hard rock (NAL) |
| Other | ~24,500 | 10% | Various |
| World total | 240,000 | 100% | — |
USGS MCS 2025 · Rounded · Li metal tonnes × 5.323 = LCE tonnes
Lithium Mining vs Refining — Geographic Split 2024
Where lithium is mined vs where it is refined into battery-grade chemicals
Global Lithium Mine Production by Country — 2019–2024
Australia's rise, China's lepidolite surge, Argentina's emergence
Project pipeline
Lithium Project Pipeline — Supply Coming Online Through 2030
From our proprietary database of 1,108 lithium assets across 115 companies and 20 countries. The pipeline through 2030 determines whether the projected supply deficit materialises on schedule or is deferred. Key variables: construction timelines at projects already under FID, and how many pre-FID projects reach a positive investment decision at current prices.
1,108
Total assets
Mines, projects, facilities
26
Operating
Mines & plants producing
7
Construction
FID taken, actively building
56
Development
Pre-FID, feasibility stage
Lithium Project Pipeline — Capacity by Status & Source Type
kt LCE/yr nameplate · Operating / Construction / Development · Colour by source type (brine / hard rock / DLE)
| Region | Source type | Operating (kt LCE/yr) | Construction (kt LCE/yr) | Development (kt LCE/yr) |
|---|---|---|---|---|
| Australia | Hard rock (spodumene) | ~680 | ~60 | ~200 |
| Chile | Brine (Atacama) | ~250 | ~50 | ~100 |
| Argentina | Brine (salares) | ~120 | ~60 (incl. DLE pilot) | ~350 |
| China | Lepidolite + hard rock | ~230 | ~20 | ~100 |
| USA | Clay / brine (DLE) | <5 | ~40 | ~80 |
| Canada | Hard rock | ~10 | ~30 | ~120 |
| Brazil | Hard rock | ~60 | ~20 | ~80 |
| Europe | Geothermal brine (DLE) | <5 | ~40 | ~60 |
| Africa (Zimbabwe, other) | Hard rock | ~40 | ~10 | ~60 |
goldandsilvertracker.com Lithium Asset Database · 1,108 assets · April 2026 · Capacity figures in kt LCE/yr approximate; nameplate at design throughput.
EV & battery demand
EV Demand & Lithium Consumption Data
Global EV sales and implied lithium consumption. Source: IEA Global EV Outlook (annual). China accounts for ~60% of volume. Battery chemistry mix determines carbonate vs hydroxide demand split.
IEA Global EV Outlook · Annual
Global EV Sales — BEV + PHEV (2018–2026)
Millions of vehicles · Regional split
Lithium per battery at $11,000/t LCE
| Battery type | kg LCE/kWh | Pack size | Li per EV | Li cost/EV |
|---|---|---|---|---|
| LFP (budget EV) | 0.65 | 60 kWh | 39 kg | $430 |
| NMC 622 (mid-range) | 0.70 | 75 kWh | 53 kg | $580 |
At $80,000/t (2022 peak): NMC 811 li cost = $4,720/EV — a 7.3× increase.
Stationary storage: the underpriced demand driver
Grid-scale battery storage is growing faster than EVs in terms of Li demand. 100 MW / 400 MWh utility storage = 260 t LCE (equivalent to ~4,700 EVs). IEA projects stationary storage reaching 20–25% of lithium demand by 2030.
EV Battery Chemistry Mix — LFP vs NMC/NCA Share (2018–2026E)
LFP uses carbonate · NMC/NCA uses hydroxide · Chemistry mix determines Li product demand split
Stationary Energy Storage — Lithium Demand (2020–2030E)
Grid + BTM batteries · kt LCE · Projected 20–25% of total demand by 2030
Lithium Intensity — kg LCE per kWh (2015–2026E)
Efficiency gains (less Li per kWh) offset some raw demand growth.
Supply & demand balance
Lithium Supply vs Demand — Glut Now, Deficit Later
Annual supply and demand balance in kt LCE. Surplus today; projected deficit by 2027–2028.
Annual · kt LCE
Global Lithium Supply vs Demand (2022–2030)
Surplus narrows through 2025; deficit projected from 2026 onward
Annual Supply / Demand Balance
kt LCE · Surplus = supply exceeds demand · Deficit = demand exceeds supply
| Year | Supply (kt) | Demand (kt) | Balance |
|---|---|---|---|
| 2022 | 720 | 700 | +20 surplus |
| 2023 | 1050 | 960 | +90 surplus |
| 2024 | 1280 | 1200 | +80 surplus |
| 2025 | 1380 | 1360 | +20 surplus |
| 2026 | 1440 | 1480 | -40 deficit |
| 2027 | 1520 | 1700 | -180 deficit |
| 2030 | 2000 | 2800 | -800 deficit |
Cumulative · kt LCE
Cumulative Lithium Balance (2020–2030)
Crosses into structural surplus from 2026; pace of deficit determines price recovery timing
Price history
Lithium Price History — LCE & Spodumene (2015–2026)
Annual and monthly LCE and SC6 price history from 2015 to present. Sources: SMM, Fastmarkets. The $80,000/t peak (Nov 2022) and $7,800/t trough (Feb 2024) are fixed historical reference points.
Annual Average Prices — LCE & SC6 Spodumene (2015–2026)
USD/t · SMM, Fastmarkets · Annual average assessed prices
| Year | LCE avg | SC6 spodumene | Key driver |
|---|---|---|---|
| 2015 | $6,800/t | $400/t | Tesla Model S scaling |
| 2016 | $9,100/t | $550/t | First Li spike |
| 2017 | $14,500/t | $900/t | China NEV policy |
| 2018 | $16,000/t | $950/t | Pre-cycle peak |
| 2019 | $9,200/t | $560/t | Correction |
| 2020 | $7,500/t | $450/t | COVID lows |
| 2021 | $17,000/t | $1,200/t | EV surge |
| 2022 | $51,000/t | $5,200/t | Peak mania |
| 2023 | $24,000/t | $2,400/t | Crash |
| 2024 | $11,500/t | $920/t | Stabilisation |
| 2025 | $12,000/t | $850/t | Recovery |
| 2026 | $11,000/t | $800/t | Consolidation |
SMM · Fastmarkets · Annual average
LCE & SC6 Annual Average Price (2015–2026)
USD/t · LCE left axis, SC6 right axis
SMM · China spot · Monthly assessed
LCE Monthly Price — China Spot (2021–2026)
ATH $80,000/t Nov 2022 · Trough $7,800/t Feb 2024 · Current $11,000/t
Calculated · Fastmarkets SC6 × 8.9 vs SMM LCE · Monthly
SC6→LCE Implied Refinery Margin — Monthly
(LCE spot) − (SC6 × 8.9) = implied margin · Negative = refineries converting spodumene are loss-making
Price drivers
Lithium Price Driver Dashboard
Four variables explain ~90% of near-term lithium price moves. The signal dashboard below shows current readings and direction. Green = bullish; amber = neutral; red = bearish.
🚗 China EV sales
BYD + CATL dominant. Export growth to EU. Stimulus programmes active. Bullish for demand.
🏭 China lepidolite supply
~30% of capacity below cash cost at $11k/t LCE. Curtailments slow but happening. Watch for acceleration.
📦 Battery supply chain inventory
Battery makers actively purchasing again. Inventory rebuild cycle beginning. Bullish signal for restocking.
⚡ DLE commercialisation
Rincon (RIO) at 3,000 t/yr Phase 1. Commercial targets pushed to 2027+. Less near-term supply than expected.
Signal Tracker — Current Readings
Live direction, update frequency, and primary data source for each indicator
| Signal | Direction | Update frequency | Primary source |
|---|---|---|---|
| 🚗 China EV monthly sales | Bullish | Monthly | CAAM / CPCA (China) |
| 🏭 China lepidolite output | Curtailing | Monthly | SMM industry survey |
| 🧪 SC6→LCE refinery margin | Positive | Daily (calculated) | SMM LCE + Fastmarkets SC6 |
| 📦 Battery maker inventory | Restocking | Monthly | Fastmarkets / trader surveys |
| 📈 Wuxi warehouse stocks (8-wk) | Declining | Weekly | SMM Wuxi survey |
| ⚡ DLE project milestones | Delayed | Quarterly | Company filings (aggregated) |
Calculated · SMM LCE + Fastmarkets SC6 · Daily
SC6→LCE Refinery Margin — Live Indicator
LCE spot − (SC6 × 8.9) · Positive = refineries profitable · Negative = curtailment pressure
Inventory
China Lithium Inventory — Wuxi Warehouse Stocks & Battery Maker Days on Hand
Unlike copper (with daily LME/COMEX warehouse data), lithium has no centralised exchange disclosure. SMM’s weekly surveys of Wuxi warehouse stocks and battery manufacturer inventory are the closest equivalents — and among the most watched near-term price signals.
~115k t
2024 peak
Reached Aug 2024 · Static ref.
Thursdays
Update cadence
SMM weekly survey
Wuxi Lithium Carbonate Warehouse Stocks — Weekly
Tonnes Li₂CO₃ in tracked warehouses. Rising = bearish (supply building); falling = bullish (demand drawing down).
Chinese Battery Manufacturer Lithium Inventory — Days on Hand
SMM survey: CATL, BYD, CALB, Gotion + mid-tier producers. Days of forward demand coverage held in stock.
How to read inventory for price direction
The 2022–2024 crash was amplified by multi-stage destocking: battery makers first drew down expensive inventories rather than buy at spot; midstream processors followed; then mine-level concentrate stacks built up. The reversal — Wuxi stocks declining for 8+ weeks, battery maker days-on-hand falling below 30 days — is the most reliable leading indicator of a price recovery. The current 8-week declining trend in Wuxi stocks is the first such signal since the February 2024 price trough.
Cost curve
Lithium Cost Curve — Production Costs by Source Type & Project
At $11,000/t LCE, the market sits just above the lowest-cost Chilean brine operations and below the cash cost for the most expensive Chinese lepidolite. Some capacity remains profitable while others are loss-making.
Global Lithium Supply Cost Curve — AISC by Source Type (2025E)
All-in sustaining cost per tonne LCE · Ranked low-to-high · Dashed line = current LCE spot ($11,000/t).
| Source type | Cash cost range | AISC range | % of supply | vs $11,000/t spot |
|---|---|---|---|---|
| 🌊 Chilean brine | $3k–$5k | $5k–$8k | ~20% | ✓ Profitable |
| 🌊 Argentine brine | $4k–$7k | $7k–$11k | ~6% | ⚠ Marginal |
| 🪨 Australia HR (low) | $3.5k–$5k | $5.5k–$8k | ~18% | ✓ Profitable |
| 🪨 Australia HR (other) | $5k–$8k | $8k–$13k | ~20% | ⚠ Marginal |
| 🪨 Brazil HR | $4.5k–$7k | $7k–$10k | ~5% | ⚠ Marginal |
| 🪨 China lepidolite | $8k–$13k | $10k–$16k | ~23% | ✗ Loss-making |
| 🪨 China other HR | $7k–$10k | $9k–$13k | ~8% | ✗ Marginal |
Lithium Production Cost Trend by Source Type (2018–2026E)
How costs have evolved: grade decline, scale effects, and inflation running through the sector.
Calculator
Lithium Unit Conversion & Value Calculator
Convert between lithium units and calculate market value. Prices pre-filled from today’s assessments. Runs entirely in your browser.
Market value
1 t LCE $/t at $11,000/t
$11,000
Quick reference conversions
| Unit | Value at current prices | Conversion factor |
|---|---|---|
| 1 tonne LCE | $11,000 | Industry standard unit |
| 1 tonne Li₂CO₃ | $2,067 | ÷ 5.323 = LCE per tonne |
| 1 tonne SC6 spodumene | $800 | × 8.9 = 1 tonne LCE |
| 1 EV battery (75 kWh LFP) | $535 | 48.7 kg LCE × $11k/t ÷ 1000 |
| 1 GWh grid storage | $7,150,000 | 650 t LCE/GWh × $11k/t |
| 1 EV battery at 2022 ATH | $3,896 | 48.7 kg LCE × $80k/t ÷ 1000 |