Critical Elements Lithium Corp V.CRE

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[Rinny1]

Lithium carbonate prices in China rose to 200,500 yuan per tonne, as rising demand for electric vehicles underpinned costs for raw materials, while supply continues to tighten. Electric vehicle deliveries in China, the world’s top lithium-ion battery importer, is expected to double last year’s level to around 3 million units. Rising lithium carbonate prices have added on average $470 to the cost of producing an automobile’s battery, as lithium carbonate prices have already increased by over 320% this year. Further, transportation difficulties of the slivery metal from Chinese mines, concentrated in remote and high-altitude regions of Tibet and Qinghai, make it harder to match demand, even though Chinese production has doubled this year. Elsewhere, Chilean presidential election frontrunner Gabriel Boric expressed plans on forming a state-owned lithium miner to manage and extract the country’s “lithium triangle”, the largest reserve of the metal in the world. .

https://tradingeconomics.com/commodity/lithium#historical