Resolves YES if the lithium carbonate (Li2CO3) spot price, as reported by authoritative market sources such as Fastmarkets or Mysteel, is strictly above $6,500 per tonne on May 1, 2026. This market captures the impact of Zimbabwe's export ban on lithium concentrate supply, which removes a significant source of spodumene feedstock and could tighten global lithium supply chains, potentially pushing prices higher. The threshold of $6,500/t is set near the expected price level considering the recent rally to ~$21,000/t lithium hydroxide equivalent prices and ongoing supply constraints. Only spot prices for lithium carbonate (Li2CO3) count; lithium hydroxide or other lithium chemicals are excluded. The market settles on the official spot price published on May 1, 2026.

Zimbabwe's export ban removes significant supply from global lithium market.

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