If it's true .. not surprised. This was "telegraphed" by China’s "Ministry of Industry and Information Technology and the State Administration for Market Regulation" indicated this back in 2022.
The statement said the government aims to make the lithium battery industry chain ‘stable’ – that is cool the rapid price rises (but of course they will be content with price falls!)
....
The complaints are similar to when iron ore prices surged to record levels well above $200 a tonne in 2021 and Chinese steel mills whinged, whined and moaned and pressured the government into setting up a special company to ‘control’ imports and prices of iron ore and other steel making materials. Those complaints have died away as iron ore prices slumped under $US100 a tonne earlier this year and remained there.
AKE Price at posting:
$8.50 Sentiment: Buy Disclosure: Held
