If lithium is the new oil, it needs better answers on widely traded crude benchmarks like Brent and West Texas Intermediate.
Oil price gains were modest compared to the rally in the metal that underpins electric vehicle batteries. Despite a recent respite, spot prices for ocean shipments of the key lithium compounds carbonate and hydroxide have more than quintupled over the past year, according to data from pricing report agency Fastmarkets. A tidal wave of demand from automakers with big EV plans has washed up against a sluggish supply response.
https://www.wsj.com/articles/elon-musks-appeals-for-lithium-are-no-substitute-for-better-price-signals-11655889078?mod=rss_markets_main Elon Musk’s appeals for lithium are not a substitute for better price signals