Lithium consumers in the electric vehicle battery supply chain are seeking longer-term contracts with producers to secure supplies for as long as possible in a market where shortages have propelled prices to their highest in three years.
Prices for lithium carbonate in China, a key material used to make rechargeable batteries, at 197,500 yuan ($30,940) a tonne are up 276% since the start of this year due to booming demand alongside accelerating sales of electric vehicles.
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