The surge in lithium demand has, thus far, been met at every turn by plentiful supply, suppressing the spot prices of the ultra-light metal for years. However, those persistently low prices have already hit the bottom lines of miners, many already struggling to keep procurement processes profitable. Those financial issues will now be compounded by the onset of COVID-19, which threatens to wipe out over 100,000 tons of production this year, and suspend the development of numerous mining expansions in South America and Australia.
Related ETF: Global X Lithium & Battery Tech ETF (LIT)
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