Prices of lithium in China are close to a record high as a power crisis in the nation’s major hub for the vital electric-vehicle battery ingredient threatens an already-tight market.
Meanwhile, Leah Chen, an analyst at S&P Global Commodity Insights, said the power cuts could tip the market into a bigger imbalance. “Should the power cuts be extended, then that could lead to more obvious supply concerns and possibly drive lithium prices higher,” Chen said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US new home sales plunge for sixth straight month to lowest level since 2016Purchases of new homes in the U.S. fell even more than expected in July as record-high home prices and rising borrowing costs priced buyers out of the market.
Source: FoxBusiness - 🏆 458. / 53 Read more »
Asian stocks mixed ahead of annual Fed meeting after China cuts rateAsian stock markets were mixed amid a China rate cut as investors looked ahead to this week's Fed Jackson Hole meeting.
Source: MarketWatch - 🏆 3. / 97 Read more »
Iron ore price rises as China cuts lending benchmarksChina’s property market crisis is testing whether central bank Governor Yi Gang can stick to his stimulus-lite strategy.
Source: mining - 🏆 449. / 53 Read more »
First Mover Americas: Crypto Market Cap Falls Below $1 Trillion as Momentum FadesDeclines in bitcoin (BTC) and ether (ETH) push crypto market cap below $1 trillion. PLUS Ethereum's Merge is getting mentioned - by LedesmaLyllah JimmyHe32 godbole17 in First Mover by CoinDesk Markets Markets LedesmaLyllah JimmyHe32 godbole17
Source: CoinDesk - 🏆 291. / 63 Read more »