China may find it hard to cool lithium’s price rally this time around.
, a raw material vital for powering electric vehicles, threaten to push costs even higher for Chinese battery makers, and the government is finding itself powerless to do anything about it.
It was easier for China back in March, at the time of the previous peak. Then, officials hauled in representatives of the supply chain and told them they wanted “rational” prices. That did at least stall the rally. But it came at a time when virus lockdowns were curbing demand, and downstream users were also struggling to cope with high costs for other battery materials like nickel and cobalt. Now, things are different.
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