Lithium prices in China are picking up after sliding to a near historic low in mid-2020, following steady growth in new-energy vehicle (NEV) sales in the world’s biggest market.
Prices for battery-grade lithium carbonate — a key metal used in batteries for a string of NEV modules including Tesla’s Shanghai-made Model 3 — soared to 59,000 yuan ($9,102) per ton on Monday, up by nearly 50% on the August 2020 price, according to data from the Shanghai Metals Market (SMM).