Feb 27, 2023 07:55 PM

BUSINESS

Lithium Prices Tumble to 12-Month Lows

By Lu Yutong and Guo Yingzhe

A worker unloads lithium raw material imports at a port in Shanghai on Jan. 28. Photo: VCG

A worker unloads lithium raw material imports at a port in Shanghai on Jan. 28. Photo: VCG

Lithium prices in China have fallen over 20% in the past two months, after demand for the key electric-vehicle battery ingredient has waned alongside sales of EVs.

The average spot price of lithium carbonate hit 392,500 yuan ($56,451) per ton on Friday, down 23.1% year-to-date and 31% from its record high in November, according to data from iFinD, a market intelligence provider.

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