Slowing growth in electric vehicle sales, including in the top EV market, China, and a market oversupply in battery metals sent lithium prices crashing by 80% in the past year, prompting lithium miners to pause and scale back expansion projects. China's EV sales continued to grow last year but fell short of expectations.
On the other hand, raw material providers, which had rushed to mine lithium in the past two years to meet growing demand, have outproduced the current demand. As a result, lithium prices crashed last year by over…Why Lithium Prices Crashed by 80%
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