Lates News

The "June Global Trade Update Report" released by the United Nations Conference on Trade and Development (UNCTAD) on the 12th reveals that global demand for lithium is expected to increase by 353% and graphite demand by 131% from 2024 to 2040. It is also expected that clean technologies will account for a larger share of demand. The report predicts that the share of lithium demand will increase from 62% in 2024 to 87% in 2040. The report shows that the growing demand for key energy transition minerals is reshaping the global trade landscape. These minerals, including lithium, cobalt, nickel, copper, and rare earth elements, are crucial for clean energy technologies, electrification, and digitization. In addition, the supply of key energy transition minerals is concentrated in various stages such as reserves, extraction, processing, and refining. This concentration is particularly prominent in processing and refining stages as they involve higher value activities. UNCTAD states that by 2025, the Democratic Republic of the Congo will account for 74% of global cobalt production, Indonesia for 67% of global nickel production, and China for 69% of global rare earth production.