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Furthermore, the scrutiny surrounding China's billion-dollar lithium export deals has intensified, with banks demanding additional approvals before financing transactions linked to restricted items. This shift indicates a broader understanding of the fragile state of international trade dynamics at play in the lithium sector.
The Race for Alternative Supply Chains
In response to these restrictions, both the US and Europe are accelerating their efforts to develop alternative lithium supply chains aimed at reducing reliance on Chinese resources. This race is fueled by an urgent need to secure a stable supply of lithium for EV batteries, which are expected to reach production levels impacting over 14 million vehicles annually.