Battery and electric vehicle manufacturers are going to need a lot of this stuff, and it’s only gotten more expensive.Īs of late July, the benchmark spot price for battery-grade lithium carbonate had risen by over 800% from the beginning of 2021, according to analysts at Rystad Energy, raising the stakes of outages or disruptions for a major processor like China. Geological Survey’s most up-to-date list of critical minerals, as its conductive properties make it an ideal metal for rechargeable batteries.
The long and short: Lithium is one among 50 in the U.S. Several major lithium processors operating in the southwestern Sichuan province have restricted operations due to heatwave-induced power cuts, helping to push prices for lithium carbonate up to $70,610 per ton yesterday.Īnalysts say the disruptions could continue to drive prices for components and for end products, including electric vehicles, even higher, depending on the duration of the power cuts within China, a top-3 global lithium processor. RIPPLE EFFECTS FROM CHINA’S HEATWAVE: Lithium prices in China are flirting with records now that authorities in the Sichuan province have extended industrial power cuts in the region due to excessive heat, spotlighting again the bumpy road that manufacturers across the globe face as they try to meet ballooning demand for green tech. Subscribe today to the Washington Examiner magazine and get Washington Briefing: politics and policy stories that will keep you up to date with what's going on in Washington.
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