Lithium consumers in the electric vehicle battery supply chain are seeking longer-term contracts with producers to secure supplies for as long as possible in a market where shortages have propelled prices to their highest in three years. Prices for lithium carbonate in China, a key material used to make rechargeable batteries, at 197,500 yuan ($30,940) a tonne are up 276% since the start of this year due to booming demand alongside accelerating sales of electric vehicles. Australia’s Pilbara Minerals recently auctioned its lithium sourced from hard rock, or spodumene, for $2,350 a tonne, an 88% rise from the $1,250 ... (full story)