The price of lithium hydroxide, a refined form of lithium used in more expensive, longer-range batteries which are preferred outside China, has held up better than that of carbonate.
It will float on water though not for long because it is also one of the most reactive and turns rapidly into lithium hydroxide and its atoms have three electrons.
It will help that hydroxide cannot be stored forever. In the longer run, rising demand for lithium for energy storage, supported by green policies in America, Europe and China, could make the market even tighter.
Another reason is that when you fully discharge your battery until it's dead, it can result in too much lithium on the cobalt side, which causes the irreversible generation of lithium oxide and cobalt 2 oxide.