Persistent tight supply continues to underpin lithium prices in Asia, as well as in Europe and the United States over the week ended Thursday June 24.

Swedish battery maker Northvolt and automotive manufacturer Volvo Car Group plan to set up a gigafactory in Europe for the development of sustainable batteries to power the next generation of Volvo’s electric fleet, they said on Monday June 21.

Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.

The global lithium hydroxide complex extended its firm tone over the week ended Thursday June 17 against a backdrop of persistent supply constraints and optimism for growing demand.

GEM chairman Kaihua Xu has worked on building a path for recycling in China since the mid-1990s. He recalls the key steps along the way and discusses the growth and outlook for one of China’s leading recycling businesses with Susan Zou.

Volkswagen Group is seeking partnerships with battery raw material producers in order to vertically integrate and achieve security of supply and competitive prices for its minerals needs, a spokesperson for the German automaker told Fastmarkets on Thursday June 17.

Junior miner Lithium Americas is on track to begin construction of its Thacker Pass project in the United States in early 2022, chief executive officer and president Jonathan Evans told Fastmarkets on Tuesday June 15.

The gap between lithium spot and contract prices has narrowed significantly in 2021 as a result of tight availability along the lithium supply chain and price evolution, market sources said.

China’s Ganfeng Lithium has been authorized by the Chinese Securities Regulatory Commission to issue around 48 million new shares overseas, the company said in a filing on Friday June 11.

Lithium prices were steady around the world in the week ended Thursday June 10, with both Asian, European and United States markets underpinned by tight availability.