If lithium is the new oil, it needs a better answer to widely traded crude benchmarks like Brent and West Texas Intermediate.
The rise in oil prices has been modest compared to the rally in the metal that underpins electric-vehicle batteries. Despite the recent pause for breath, spot prices for marine supplies of major lithium compounds, carbonates and hydroxides have More than quintupled over last year, according to data from price-reporting agency Fastmarkets. A tidal wave of demand has been swept away by carmakers with big EV plans in the face of a slow supply response.