Last year was huge for lithium, with the battery metal setting all-time highs for the second year in a row. However, prices for lithium carbonate and hydroxide have slumped significantly throughout 2023.
The declines in lithium carbonate and hydroxide prices were driven by a mix of factors that have led supply to outpace demand. More recently, according to Trading Economics, decreased consumer spending in China has kept electric vehicle demand low, and battery manufacturers have cut back large lithium purchases in response.
In September, the European Commission announced an investigation into whether it should impose high tariffs on electric vehicles manufactured in China as it looks to protect the competitiveness of vehicles made in Europe. According to the Commission, Chinese electric vehicles are on average 20 percent cheaper than those made in the EU.
Back in July, the Investing News Network spoke with Global Lithium’s Joe Lowry…
