...Juan, ...domestic Chinese EV sales have not been rising just 1 or 2 but 4 successive months and even more if not for a brief pause (see chart), so why hasn't lithium been moving notably higher?
....Lithium hodler narrative- higher EV sales = higher lithium demand = higher lithium price. But that is not happening.
Instead higher Chinese EV sales is the outcome of lower for longer lithium price with 90% of lithium for Chinese batteries sourced from vertically integrated and South American sources at low prices.
...EV growth will continue in China without lithium doing much. And outcome of Chinese EV makers controlling entire supply chain.
Wholesale sales of passenger NEVs in #China are estimated at 1.46m units in Nov, up 51% y-o-y and up 6% from Oct, the China Passenger Car Association (CPCA) said in a report today. The 5th month un a row with >1m NEV sales. #Lithium's got to boom soon. https://x.com/jczuleta/status/1863953550444802257
