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| Year | Price per tonne | Change on prior year |
|---|---|---|
| 2021 | $11,700 | n/a |
| 2022 | $63,700 | +444% |
| 2023 | $39,000 | -39% |
| 2024 | $11,800 | -70% |
| 2025 (estimate) | $9,000 | -24% |
Source: USGS Mineral Commodity Summaries 2026, Lithium, which credits Benchmark Mineral Intelligence. The 2025 figure is a USGS estimate and may be revised. USGS's text describes the $9,000 as a 31% decrease from 2024, while its table gives $11,800 for 2024 (a 24% decrease); the table values are shown here.
What the series measures
Battery-grade lithium carbonate is the chemical most cathode makers buy. The figure is a single annual average, so it hides large moves inside each year. Always state the basis when quoting a lithium price: lithium carbonate equivalent, lithium oxide in concentrate, or lithium content.
The 2025 recovery in the second half
USGS attributes the weakness in the first half of 2025 to concern about short-term oversupply, and the recovery in the second half to electric-vehicle sales in China and Europe and demand for battery energy storage. USGS reports spot carbonate in China rose from about $9,300 to about $10,300 per tonne during 2025.
Concentrate prices moved separately
Spodumene concentrate is priced per tonne on a 6% lithium oxide basis. USGS reports Australian FOB spodumene rose from about $800 to about $970 per tonne during 2025. Shanghai Metals Market and Mysteel reported Albemarle's spodumene auctions at $2,018 per tonne SC6 CIF in March 2026, $2,704.50 in May and $2,113 in July, which shows how far the price moves within a year.
Related
Frequently asked questions
What was the lithium carbonate price in 2025?
USGS estimates the annual average battery-grade lithium carbonate price at about $9,000 per tonne in 2025.
When did lithium peak?
In 2022, when the USGS annual average was $63,700 per tonne.
What drove the 2025 recovery in the second half?
USGS cites electric-vehicle sales in China and Europe and demand for battery energy storage.
Sources
Specifications published by index providers are revised over time. Where a figure comes from a pricing notice, confirm the version currently in force with the publisher before you use it in a contract. Corrections are welcome.