Lithium prices are soaring in China on the back of heavy demand for lithium iron phosphate (LFP) batteries, a new report by battery supply chain research and price reporting agency Benchmark Mineral Intelligence shows.
Benchmark’s battery grade lithium carbonate midpoint price (EXW China, ≥99.0% Li2CO3) in January surged by over 40% compared to the same month last year to 61,000 yuan per tonne (~$9,450 a tonne), the highest level since June 2019. Price came close to $25,000 a tonne at the start of 2018 but has been in steady decline since then.
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