SYDNEY -- Rio Tinto's $6.7 billion acquisition of Arcadium Lithium has experts reassessing their outlook for the lithium market, with some arguing the landmark deal could kick off a wave of consolidation in the sector as prices bottom out.
The landmark deal comes as lithium prices have fallen more than 80% over the past 18 months due to oversupply from Chinese and African mines and slower adoption of electric vehicles. Prices have stabilized in recent weeks, with the global average for lithium carbonate sitting around $10,500 a tonne, according to S&P.
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