Hyperdrive
Lithium Hits ‘Ludicrous Mode’ as Battery Metal Extends 400% Gain
- Price surge comes as electric vehicle sales take off in China
- Producers reap huge profits amid warnings of deep deficits
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Lithium prices are continuing their breakneck ascent in China, with surging electric-vehicle sales underpinning a fivefold gain over the past year.
Chinese lithium carbonate prices tracked by Asian Metal Inc. rose to a fresh record on Monday, as data showed a 35% month-on-month jump in electric-vehicle registrations in December. Nearly 400,000 EVs were registered during the month, according to the China Automotive Technology and Research Center. Tesla Inc. supplied about 18% of the total.