Lithium Price Chart Jumps To New High
Santiago Chile – Lithium price in China touches an all-time high on Wednesday, continuing a record-breaking hot streak with no end in sight.
Additionally lithium prices now trend upwards for 24 straight months.
Prices for lithium hydroxide, that is used in batteries with high nickel content, is up over 150% this year. Thus trading at $80,500 a tonne this week, according to the Benchmark Lithium Price Assessment.
Furthermore lithium prices in China hit an all-time high the first week of November. Just As battery manufacturers scramble to secure supply amid booming demand from the electric car market. For example EV market continues to expand with global sales of electric vehicles. Additionally reaching one million EV car for the first time in September, according to Rho Motion.
Lithium Downstream Market Cost
Blue Sky Lithium is not seeing the spot price have a dramatic impact on new EV car prices, yet. However if the current spot market prices continue consumers can expect further pressure on cost.
Thus we have to see how car manufactures adjust prices Q1 2023. Additionally we have to watch for the impact of electrification goals governments have. Perhaps governments will have to issue even more tax credits for electric car buyers.
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