Lithium Price Surpasses 200,000 Yuan Milestone as EV Sales Reach New Heights

The price of the key material used to make electric-car batteries has passed the 200,000 yuan ($31,305) milestone in China, continuing a hot trend that has seen the price of the commodity reach record highs as vehicle sales also reach new heights.

As of Thursday, the spot price of battery-grade lithium carbonate was up nearly 360% year-on-year at 200,013 yuan per ton, metal research institute Shanghai Metals Market data shows. On the first day this year for which the institute gives a price, Jan. 4, it was at 53,000 yuan.