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(Bloomberg) Welcome to the world of China’s lithium auctions, where vast numbers of bids are placed, firms end up spending over a thousand times the opening price, and buyers promising hundreds of millions of dollars have walked without paying.Most Read from BloombergLuxury Cruise Ship Full of Australians Stuck in Greenland ArcticApple’s iPhone 15 Debut Includes Higher Price on Top ModelBP CEO Looney Quits Over Past Relationships With ColleaguesAT&T, T-Mobile Offer Free iPhone 15 in Lure for

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