China Lithium Futures Tumble Daily Limit in ‘Brutal’ Trading Debut

Most of China’s first ever lithium futures sank by the daily limit on their debut, underscoring the market’s pessimism towards prices of the key component in electric vehicle batteries next year due to an expected surplus.

Contracts for January delivery of lithium carbonate on the Guangzhou Futures Exchange fell 12.6% below the benchmark listing price of 246,000 yuan ($34,260) per ton to close at 215,100 yuan on Friday, data from the bourse showed.