Lithium Jumps Again as Miners Can’t Keep Up With Battery Boom
- A BMI index surged 25% in Sept., extending a yearlong rally
- Battery makers are also facing higher cobalt, copper prices
A worker inspects a set of lithium battery modules inside the battery building at the Vistra Corp. Moss Landing Energy Storage Facility in Moss Landing, California, U.S
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Lithium prices extended their yearlong rally as surging demand spurs a shortfall of the key battery material.
Prices have more than doubled in the past year, according to a Benchmark Mineral Intelligence index of lithium carbonate and hydroxide. Demand for the materials used in electric cars and renewable-energy storage has soared and, while miners are seeking to boost supply, there’s not enough to meet consumption.