...It is only Odd because lithium market participants are in denial that:
1) there is an oversupply/overcapacity situation in EV battery in China, which requires less lithium
2) EV growth is materialising at the expense of lithium prices: the lower the lithium price, the greater the capacity of EV makers to provide cheaper EVs in the Chinese domestic market. Chinese EV makers are resorting to low margin pricing to boost sales and demand so their factories can continue to operate at optimal rate and keep employment.
While the #lithium futures and spot prices appear depressed, excellent news on EV sales in China was released today.
"China's NEV penetration at retail was a record 47% in May, up 14% points from 33% a year earlier and up 3.3% points from 43.7% in April, the CPCA said." Odd.
*EVs Growth does not mean Lithium Price would go higher
*A Lower Lithium Price actually supports EV Growth
*EV Growth would only encourage mines in across the world to supply in the years ahead ensuring no lithium demand/supply imbalance
