China Lithium Prices End Bumper Year at New High on Record Electric Car Sales

China’s spot price of battery-grade lithium carbonate, the key material used to power electric cars, hit a new historic high on the last day of trading for 2021, ending the year with a more than fivefold annual increase on the back of record domestic sales of new-energy vehicles (NEVs).

On Friday, the lithium carbonate traded at a new high of 275,000 yuan ($43,143) per ton on average, up 434% year-on-year, data from metal research firm Shanghai Metals Market showed.