Lithium prices are beginning to slow their climb after a 500% rally. High lithium carbonate prices have begun to dampen demand. The EV industry has failed to secure a sufficient long-term supply of battery metals and is now dealing with the consequences. After skyrocketing by almost 500 percent over the past 12 months, lithium prices are beginning to slow their climb as current price levels begin to affect demand adversely. Lithium carbonate, the form in which the crucial battery metal is frequently traded, quadrupled in price in 2021 and has continued to rise since the start of 2022 amid widely shared expectations of a faster shift to EVs, with the corresponding strong growth in sales of electric vehicles. However, with prices reaching “insane levels”, per Elon Musk, they have begun to dampen demand, Bloomberg reported this week. The resurgence of Covid in China, the world’s largest EV market, has […]