Mississauga, ON -- (SBWIRE) -- 12/10/2015 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "International Lithium Makes Progress With Project in Argentina."
Companies mentioned in this article include International Lithium Corp. (TSX-Venture:ILC).
According to the Sydney Morning Herald, lithium prices are expected to rise strongly over the next two years. The price increase will be driven by increasing adoption of electric cars.
Sydney Morning Herald describes the increasing adoption of electric cars as a "game changer" for lithium. Citing Citigroup analyst Matthew Schmebri, the paper notes that currently the demand for lithium primarily comes from industrial companies that focus on the production of ceramics and glass but demand will rise substantially when electric vehicles become mainstream and require the commodity to run lithium-ion batteries.
Citigroup expects a significant increase in the production of pure electric vehicles. According to the bank, production of electric vehicles will increase from 150,000 this year to 290,000 in 2016. By 2020, Citi expects electric vehicles production to increase to 1.04 million units. Not surprisingly, analysts are quite bullish on the outlook for lithium prices.
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