Lithium Prices Drop—What It Means for EV Batteries & Global Supply Chains

Lithium Prices Drop—What It Means for EV Batteries & Global Supply Chains

Lithium prices have been unpredictable due to global tensions and mining difficulties. As reported by S&P Global, in 2023, lithium carbonate prices shot up past $80,000 per metric ton but later dropped as supply increased and demand slowed. By early 2024, prices stabilized out but remained weak. But as of March 21, Platts assessed lithium carbonate (CIF North Asia) at $9,200 to $9,550 per ton. This forced several deals on hold, and some mining g…