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Temporary weakness obscures long-term lithium growth

Wednesday, April 19, 2023

Significance

Prices for lithium carbonate equivalent in China fell even further. The expiration of China’s government’s subsidies for electric vehicles (EVs) triggered the drop. Prices of spodumene -- a key lithium mineral for conversion into electric battery precursors -- have also fallen sharply.

Impacts

  • Supplies are rising; Australia’s Core Lithium has begun to ship spodumene ore from its Finniss Project near Darwin, Northern Territory.
  • R&D into lithium extraction is rising; Rio Tinto is testing a spodumene concentration process at a demonstration plant in Quebec.
  • Many lithium hubs are being planned, including Albemarle's USD180m lithium technology hub at its hometown in Charlotte, North Carolina.
  • Self-sufficiency is a key aim; Chinese battery maker Sunwoda plans a 50,000-tonne-per-year USD2.4bn lithium carbonate plant in Jiangxi.

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