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Huge discovery of the silvery-white alkali metal known as ‘white gold’ is expected to make its way to China’s battery makers, heating up a global resource race as Thailand also boasts a big lithium find.
China Lithium Price: Prices of the chemical used in batteries in China, also the world's largest producer, have already tumbled 77% this year after Beijing slashed subsidies for electric vehicles from January, dragging down lithium ore prices and hurting global miners' profit margins.
China Lithium: The most-traded January lithium futures contract on the exchange edged up 1% on Friday to end the week at 124,050 yuan (USD 17,202.65) per metric ton, down 10% on the week. They shed 7% last week. It posted a 7% tumble on Thursday and now stands at less than half its price when the contract began trading in July.
There is no shortage of raw lithium. China’s dominance of lithium processing is where the potential problem lies.
Despite the push toward decoupling, China-West collaboration persists in South America’s Lithium Triangle. But in the age of strategic competition, how long will this last?