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Lithium Rout Deepens With Battery Metal Now Down 75% This Year
Lithium extended an almost monthlong run of declines, taking its drop this year to 75%, with expectations the rout in the electric-vehicle battery metal is far from over. Chinese prices of lithium carbonate, a semi-processed form of the metal, fell 2.3% on Thursday, and are down 20% so far this month. The last time they posted a daily gain was on Oct. 25. Spodumene, the lithium-bearing rock mined in Australia, has more than halved in 2023. A supply glut has pushed down prices in 2023, after they surged in the previous couple of years. The global lithium market won’t return to deficit until 2028, according to ... (full story)