mining science
By lens · 1 takes across the edition
AZoMining · Australia · Lithium prices nearly doubled in Q1 2026 as the oversupply narrative collapsed
Reviews the key themes: conflicting deficit vs surplus forecasts from Morgan Stanley (80,000t LCE deficit), UBS (22,000t LCE deficit), S&P Global (109,000t LCE surplus) and Wood Mackenzie (surplus); notes DLE in Argentina as the only material new supply, with Rio Tinto Rincon, Eramet Centenario and POSCO Sal de Oro all ramping, and argues price discovery in early 2026 suggests market participants rejected the surplus thesis.
“The key themes surrounding the lithium market in 2026: clashing deficit vs surplus forecasts, with the price surge validating the deficit case in Q1.”