Prices of lithium carbonate assessed by Benchmark Mineral Intelligence have reached new highs on the back of limited supply and sustained lithium-ion battery demand in China.

Benchmark’s EXW China (Battery) grade of lithium carbonate rose by 26.5% to RMB 160,000/tonne ($24,800) in the final two weeks of September 2021.

This surpasses the previous high of $24,750/tonne for battery-grade lithium carbonate assessed on 30 March 2018, and marks a new era for the lithium industry, Benchmark said.

The highest end of Benchmark’s published range for its EXW China grade in September reached RMB 180,000/tonne ($27,900). During the month, Benchmark’s EXW China (Technical) grade of lithium carbonate increased by 29.5%, marking some of the largest price jumps ever experienced in the lithium industry.