Lithium powers higher, up 159% for the year
Lithium is up 25% month-on-month according to a report released on Tuesday from Benchmark Mineral Intelligence.
The report looked at pricing activity for the month of September. The research firm uses its own Benchmark Lithium Price to track the metal.
"Lithium market activity continued to be constrained by product availability in September, with producers, consumers, and traders alike reporting to Benchmark that what little product was available was sold on spot markets at high and increasing prices," wrote Benchmark analysts noting that the lithium index is up 159% year-to-date.
The sector is active. Analysts highlighted investments by CATL, Tianyi Lithium and Gotion, which totaled more than $1 billion "...as the companies look to vertically integrate into the lithium value chain to protect against the tightening raw material outlook."
Benchmark also noted Albemarle's $200m acquisition of Chinese lithium converter, Guangxi Tianyuan New Energy Materials.