Red-Hot Lithium Rally Cools as China’s BYD Flags Surplus

(Bloomberg) ― Red-hot lithium prices are cooling a little as China’s electric-car giant BYD Co. flags that the market could swing into surplus next year.

The battery material in China has continued to retreat from the record high hit last month as signs of demand weakness weigh on the market. Lithium carbonate fell 0.2% to 571,500 yuan ($82,000) a ton Wednesday, although prices are still around double where they were at the start of the year.