Hyperdrive
Slumping Lithium Prices Signal Angst Over China’s Demand Outlook
- Battery makers slow to restock on concern over consumption
- Goldman sees further decline in prices if EV sales disappoint
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Lithium prices are spiraling down toward the lowest level in two years on concerns over the strength of Chinese demand for the material, a key ingredient in electric vehicle batteries.
Prices of lithium carbonate in China fell to 166,500 yuan ($22,814) a ton last Wednesday, ahead of the Golden Week holidays, a loss of almost half from the recent peak in early June. The decline has been precipitous. Less than a year ago, the metal reached a record of 598,000 yuan a ton.