After hitting all-time highs in 2022, lithium took a downward turn from November to May, when prices started to rebound. With prices now retreating again, many investors are wondering if it’s still a good time to buy lithium stocks.
Demand for lithium is expected to increase in the coming years as electric vehicle (EV) sales continue to beat forecasts to the upside in key markets. The energy storage sector is also a segment that could grow exponentially in the next decade.
Looking at 2023, lithium demand is forecast to increase by 28 percent year-on-year, with a further 24 percent increase year-on-year expected in 2024, according to Fastmarkets. By 2033, the firm anticipates lithium demand of around 3.5 million metric tons.
Alkemy Capital Investments plc (LON:ALK, FRA: JV2) is focussed on developing projects in the energy transition metals sector. Alkemy’s wholly-owned subsidiary Tees Valley Lithium (TVL) is developing a state of the art lithium hydroxide plant at Teesside, UK. TVL is Europe’s largest independent and sustainable lithium hydroxide producer.