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A slump in the price of lithium, a key raw material in electric car batteries, is dragging on China's mining of the ultralight metal which together with a costly extraction process is prompting a reassessment of output growth and new project plans. Softening EV demand has knocked down global lithium prices, with a basket tracked by Benchmark Mineral Intelligence plunging more than 80% in the past 12 months. In China, which accounted for about a quarter of the world's mined lithium output in 2023, analysts expect the mining of lepidolite - a hard rock ore that is relatively expensive for producing lithium - to take a hit as a prolonged price slump makes costly production unsustainable.

United statesAndrew hayleyLi liangbinSiyi liuYan yunSusan zouTony munroeHimani sarkarRystad energyYongxing special materials technology huashanBenchmark mineral intelligenceSouth americaLunar new yearYongxing special materials technologyYin yiweiCommunist party