Got Lithium?

In particular, lithium carbonate. The material used in electric vehicle lithium ion batteries. As a result, lithium demand is soaring! Lithium prices in China, the benchmark, hit a new high of $71,500 a metric ton last week.

China is the biggest market for electric vehicles. Sales are way up. This has juiced the demand for lithium ion batteries. 6 million electric vehicles are expected to be sold in China alone this year.

One bottleneck is lithium refining. Lithium refining converts industrial grade lithium carbonate to battery grade lithium carbonate. Battery grade lithium carbonate is then sold to electric vehicle manufacturers. China dominates the lithium refining market. The US is behind but working hard to catch up.

If you have any lithium carbonate lying around the house and are trying to unload it, you should be in good shape. Give those electric automotive companies a call!