Lithium prices in China have slumped by almost a third in the last three months after weaker demand in the world’s largest market for electric vehicles has punctured a two-year rally for the key battery component.
Prices have dropped 29 per cent from November highs to Rmb425,000 ($61,795) per tonne, according to pricing agency Fastmarkets, driven by concerns over the strength of EV demand in Asia’s largest economy.
“There has been persistent weakness in China,” said Jordan Roberts, lithium analyst at Fastmarkets. “The market is waiting to see the impact from the reduced new energy vehicle subsidies and is concerned by low household confidence, which is tied to the country’s property crisis.”
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