Lithium Price Drops First Time in Eight Months Amid Covid Disruptions

What’s new: The lithium price surge hit the brakes Tuesday for the first time in eight months, reflecting weakening demand from automakers amid extended pandemic lockdowns and seasonal factors.

The price of battery-grade lithium carbonate dropped 4,000 yuan ($628) to 496,000 yuan per ton Tuesday, pausing eight months of gains since July. It was the first time since March 4 that the material’s price fell below 500,000 yuan per ton.