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The Guardian - AU
The Guardian - AU
National
Royce Kurmelovs

‘Gone ballistic’: lithium price rockets nearly 500% in a year amid electric vehicle rush

United States Australia Tim Buckley China
The price of lithium has skyrocketed over the past year and is predicted by some to keep rising.
Employees work on the assembly line of an EV factory in Jinhua, Zhejiang province, China. The price of lithium has skyrocketed over the past year and is predicted by some to keep rising. Photograph: VCG/Getty Images

Lithium prices have “gone ballistic” as surging electric vehicles sales worldwide create massive demand for the critical component of lithium-ion batteries.

According to figures from Benchmark Mineral Intelligence (BMI), the price of the lithium-rich raw material spodumene rose 478.3% between January 2021 and January 2022.

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