Lithium Price Climbs to Record on Tight Supply

What’s new: The price of lithium, the key material for making electric vehicle batteries, soared to a record high in China reflecting strong demand and tight supply.

The spot price of battery grade lithium carbonate climbed to 605,000 yuan ($83,700) a ton Friday, more than double the price at the beginning of the year, according to data from Wuxi Stainless Steel Electron Exchange Center.