#Bloomberg: #Lithium Resumes Insane Gains to Add Pressure on Automakers

Posted on September 19, 2022 by Nanthakumar Victor Emmanuel, P.Eng. COO, CVMR Corporation Leave a comment

Lithium — the ubiquitous raw material needed in electric vehicle batteries — was trading at insane levels, and China’s authorities in March pushed key industry players to act, prices briefly began to cool. Now, they’re rising again to add pressure on automakers.

Lithium carbonate jumped to a new record Friday of 500,500 yuan ($71,315) a ton in China, according to data from Asian Metal Inc. The battery material has roughly tripled in the past year, and is more than 1,150% higher than a pandemic low touched in July 2020. Prices of lithium hydroxide are also gaining and closing in on an all-time high set in April.