Lithium Price Freefall Wipes Out Gains Since November 2021

The price of lithium carbonate, the key material for batteries to power electric vehicles, continued in freefall amid weak demand, dipping below the psychological threshold of 200,000 yuan ($29,035) per ton Wednesday.

The spot price of battery-grade lithium carbonate dropped to 199,000 yuan per ton Wednesday in China, down 40.9% from the previous month and nearly 60% lower than a year ago, according to data from industry information provider Mysteel.com.