Lithium carbonate prices in China were 282,500 yuan/mt in the...

Lithium carbonate prices in China were 282,500 yuan/mt in the start of January, after a 486% surge in 2021, amid rising global demand and supply difficulties. As the world transitions towards a greener economy, manufacturers raced to secure lithium supplies, the key input for batteries powering electric vehicles. Global electric vehicle sales are estimated to have increased by 160% during 2021, while deliveries in China are expected to double in 2022 to over 5 million sales. To add, bets on scarcity led manufacturers to prefer long term contracts, as lithium miners face opposition from environmental groups. In November, mining giant Rio Tinto PLC pledged USD 2 billion to develop lithium mines in a Serbian depository, but backlash from protesters led local authorities to momentarily suspend the land-use plan for the mine. Elsewhere, Chile’s new president **riel Boric pledged on forming a state-owned lithium miner to manage the country’s “lithium triangle”, the world’s largest reserve.

https://tradingeconomics.com/commodity/lithium