Resolves YES if the lithium carbonate (Li2CO3) spot price as reported by Fastmarkets or a comparable authoritative lithium price index is below $7,500 per tonne on April 1, 2026. Resolves NO if the price is $7,500 or higher on that date. This market captures the impact of Zimbabwe's export ban on lithium concentrate supply and its potential to sustain elevated lithium prices, given the recent rally to around $21,000/t in early 2026 and ongoing supply constraints. The threshold of $7,500/t is near the expected price floor considering current market tightness and strategic supply risks. Only spot prices for lithium carbonate (Li2CO3) are considered; lithium hydroxide or other lithium compounds do not count.

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

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