The lithium market surged on Monday, following the news that China’s Contemporary Amperex Technology Co. Ltd. (CATL) halted operations at one of the world’s largest lithium mines in Jiangxi province. Prices on the Shanghai Metals Exchange rallied as high as $10,800 per ton, erasing the entire year’s slump that saw the price touch as low as $8,350 per ton.
The mine in Yichun, often dubbed China’s “lithium capital,” previously supplied as much as 6% of global output. However, following its license expiration on August 9, the company had no other options but to halt production.
