Prices for the lithium-rich spodumene concentrate that Australian miners send to the world’s battery manufacturers surged by 45.5 per cent in January, and experts say the record-breaking 15-month rally in lithium prices has further to run.

Price reporting agency Benchmark Mineral Intelligence (BMI) said Australian spodumene concentrate was fetching $US2400 per tonne in January, up from $US1650 per tonne in December.