Hyperdrive
Lithium Rout Deepens With Battery Metal Now Down 75% This Year
- Chinese lithium carbonate prices haven’t risen since Oct. 25
- Supply glut and EV demand uncertainty have fueled declines
Lithium carbonate.
Photographer: Carlos Becerra/BloombergThis article is for subscribers only.
Lithium extended an almost monthlong run of declines, taking its drop this year to 75%, with expectations the rout in the electric-vehicle battery metal is far from over.
Chinese prices of lithium carbonate, a semi-processed form of the metal, fell 2.3% on Thursday, and are down 20% so far this month. The last time they posted a daily gain was on Oct. 25. Spodumene, the lithium-bearing rock mined in Australia, has more than halved in 2023.