After hitting an all-time high of CNY 595,000 per tonne ($86,170 per tonne) in November 2022, lithium carbonate prices in China have sunk to a 13-month low of CNY 362,500 per tonne ($52,500 per tonne) in March 2023, good for a nearly 40% correction as a confluence of negative catalysts conspired to end lithium’s biggest rally ever.
Second, news that China’s CATL, the world’s biggest manufacturer of li-ion batteries for EVs, has started offering discounts on its batteries has not sat well with the markets. About two weeks ago, Reuters reported that CATL had begun offering discounts to some Chinese automakers it supplies, which included an assumption that lithium carbonate prices would halve. CATL, which counts Tesla, NIO Inc. (NYSE:NIO), and Volkswagen AG (OTCPK:VWAGY) among its largest clients, is reportedly also offering targeted rebates.
But what has really spooked the markets has been an influx of fresh lithium supply, with looming supply from China, Australia and Chile likely to pull down prices even further, “Supply is coming on stream faster than you can say ‘boo’.Demand remains strong but prices have been unsustainable for some time now,” analyst Dylan Kelly of Ord Minnett has told Mining.com.
Let's hope we get some good news from brazil ASAP.
Some food for thought.
- Forums
- ASX - By Stock
- OZM
- Ann: Investor Presentation
Ann: Investor Presentation, page-21
-
- There are more pages in this discussion • 174 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add OZM (ASX) to my watchlist
(20min delay)
|
|||||
Last
3.5¢ |
Change
-0.001(2.78%) |
Mkt cap ! $5.556M |
Open | High | Low | Value | Volume |
3.8¢ | 3.8¢ | 3.5¢ | $1.714K | 45.14K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 44000 | 3.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.1¢ | 3718 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 43000 | 0.032 |
1 | 600000 | 0.031 |
1 | 1000 | 0.026 |
1 | 43521 | 0.023 |
1 | 153846 | 0.013 |
Price($) | Vol. | No. |
---|---|---|
0.041 | 3718 | 1 |
0.042 | 255095 | 1 |
0.048 | 14428 | 1 |
0.051 | 100000 | 1 |
0.056 | 9672 | 1 |
Last trade - 13.37pm 13/09/2024 (20 minute delay) ? |
Featured News
OZM (ASX) Chart |
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online