Lithium Prices Jump After Zimbabwe Bans Concentrate Exports

Lithium prices and shares surged after Zimbabwe, one of the world’s top producers, suspended concentrate exports, fueling fears that global supplies of the battery ingredient will tighten.

Lithium carbonate on the Guangzhou Futures Exchange rallied 5.4% to 177,000 yuan ($25,856) a ton as of 11:21 a.m. local time. Shares of lithium producers from China to Australia and the Americas also jumped.