Lithium Prices Triple on High Demand from iPads, Hybrid Vehicles

Bloomberg reported that lithium prices have tripled since 2000 on increased uses  for the critical metal. Investors are looking to cash in on the increasing popularity of iPads, hybrid vehicles, electronics and ceramics.

As quoted in the market news:

Demand for lithium-ion rechargeable batteries out of Asia has helped prices climb threefold in the last 12 years, London- based Roskill Information Services Ltd. analyst Robert Baylis said. Global use doubled from 2000 to 2011 according to Roskill, which has recently consulted on six lithium projects.

Analyst firm, Dalhman Rose, stated:

Global consumption may jump to 300,000 metric tons a year by 2020 from about 150,000 tons now […]. Demand for lithium batteries has been growing at about 25 percent a year, outpacing the 4 percent to 5 percent overall gain in lithium, the firm said.

Click here to read the full Bloomberg report.