Robust Demand for EV batteries and Mining Controversies to Keep Lithium Carbonate Prices Sturdy Across the Globe
Concerns over the supply of Lithium from China has been pushing up its prices to significant highs in the first half of January. Demand for Lithium has strengthened across the globe due to rising adoption for EV batteries in various countries. Lithium Carbonate prices skyrocketed entering 2022 following strong demand for electric-vehicle manufacturers. The strong wave of demand has shadowed over the availability of Lithium at times of ongoing maintenance turnarounds and curbs due to Winter Olympics in China. As buyers begin to scramble for spot purchases amid the tight material availability, lithium and its derivatives prices have showcased tremendous surge in the past two weeks. Chile holds largest Lithium reserves in the world. Various countries have been bidding for Lithium mining contracts from Chile amidst the exponential rise in demand. As per the declaration, the successful bidder will receive seven-year development and exploration rights for Lithium in addition to 20 year e...