The price of lithium has finally broken its all-time high price to reach over 500,000 yuan on Friday, or $71,315 per ton. Breaking what many considered a barrier of 500,000 yuan raises questions about just how high lithium prices could go, considering ever increasing demand for lithium-ion batteries as EV manufacturing ramps up. Batteries are already the main cost inhibitor for most EV manufacturers, with many fearing that further increases in commodity prices could prevent manufacturers from lowering car prices, which would allow them to sell in budget markets and accelerate the EV transition. But lithium isn’t the only material used in battery manufacturing, a number of other minerals are integral to the manufacturing of different cell chemistries. Let’s look…