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Lithium price free fall wipes out gains since November 2021

Decline of key material price coincided with EV market slowdown in China

After a two-year run, the spot price for lithium has wiped out all its gains since November 2021.

The price of lithium carbonate, the key material for batteries to power electric vehicles, continued in free fall amid weak demand, dipping below the psychological threshold of 200,000 yuan ($29,035) per ton on Wednesday.

The spot price of battery-grade lithium carbonate dropped to 199,000 yuan per ton on Wednesday in China, down 40.9% from the previous month and nearly 60% lower than a year ago, according to data from industry information provider

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