CATL crunch provides some relief in bearish lithium market

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CATL Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Capital markets firm claims oversupplied market still in train next year

Lithium miners on the ASX were again being bought by investors in the wake of speculation major Chinese producer CATL is cutting back production — albeit the source of that speculation, capital markets firm UBS, says many more mine cuts will be needed before it gets positive on the sector. "Today's news was positive, but we will need to see more supply come out to solve our 2025 surplus," UBS said. "The key will be how the broader China lepidolite supply story evolves.

Meanwhile, shares in the diversified Mineral Resources were up 8% to circa $38, having been trading at around $30 before the CATL speculation emerged. MinRes chief executive Joshua Thurlow reportedly said CATL's decision could indicate the lithium price has hit its floor. "It does indicate that at these current prices, people aren't going to be able to sustainably operate.

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Belgique Dernières Nouvelles, Belgique Actualités