Dry sand was one of the agents used before the development of specialty powders in the mid 20th Century and is still suitable for small incidents. Also for minor outbreaks bulk Class D powder in pails and applied with scoops is used as cheaper than a pressurised extinguisher.
Standard Class D powders such as Sodium Chloride, Graphite, Copper and Ternary Eutectic Chloride have a high latent heat of fusion and absorb the tremendous heat from the metal to melt and flow over the metal, cutting off the oxygen and smothering the fire. The molten powder solidifies and crusts and can crack exposing the still hot metal to the air with reflash and so large quantities of extinguishing powder are needed to fully cover the powder until it has itself cooled and re-solidified - which can take a long time.
TEC,whilst still manufactured in the developing world, is no longer used here due to cost and extreme toxicity, but did have the added property of chemical inhibition of combustion via it's chloride radicals.
Whilst not appropriate to Lithium it's of note that for Magnesium risks an economy option is the use of ABC Powder extinguishers fitted with low velocity applicators rather than the dearer specialty powders as years ago Croda Kerr submitted ABC 40 to the standard German DIN tests for Class D agents and a 12kg extinguisher was found to extinguish up to 1kg of magnesium.