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 Mysteel.com.
