SHANGHAI, May 18 (SMM) – Import prices of lithium with purity of 99% jumped by 42% in China in the past six months.
Lithium ore supply continued tightening while demand from China was strong, which pushed up spot lithium prices. Demand from electric vehicle producers also helped drive up lithium prices. US electric vehicle producer Tesla Motors planned to commission its super lithium-ion battery plant later this year and lithium-ion batteries produced by the plant is expected to service 500,000 units of electric vehicles within five years.
Continue gains in lithium-ion battery prices also notably increase earnings for China’s listed lithium-ion battery firms. Average growth in business revenues at domestic listed lithium-ion battery firms was about 50% in Q1 with average growth of net profits exceeding 400%, based on the Q1 report.
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