Booming EV Demand Sends Lithium Prices to Record

(Bloomberg) -- The world’s lightest metal is posting heavyweight gains as booming electric-vehicle sales drive a surge in demand for lithium -- prices for the battery metal soared past previous records in China and international prices are nearing new peaks. The rally is transforming the fortunes of producers from Australia to Argentina, sparking a dealmaking spree as miners look to tap new deposits and carmakers race to lock in supplies. There’s a growing risk the lithium rally could end a years-long decline in battery prices, creating another inflationary headache for carmakers betting billions on the EV revolution.

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