Lithium prices have slumped, following a deal between the European Union and China that will cut Chinese hybrid car exports to the bloc. Since the start of the week, China’s most actively traded lithium futures contract has dropped by 14%, Bloomberg reported earlier today.
The oil crisis caused by the war in the Middle East had sparked hopes that battery demand will expand, as drivers increasingly switch from gasoline and diesel cars to electric vehicles. However, protectionist measures taken by European Union authorities against Chinese…