Sobering commentary from JL. Clearly the analysts (and us plebs) have realised team China are controlling the market. This will take time to play out and requires western demand (supply chain from mine to battery) for raw material price to increase.
Will CATL be prepared to wear bigger losses by producing LC from Leshitolite/Africa, when/if they increase production from these sources? Currently they are producing just enough to swing supply to excess and keep the price of quality Lithium low. If demand increases, they will have to ramp production of Leshitolite to achieve this outcome and therefore take bigger losses upstream. That's how I see it so an interesting 2025/26 coming up.
Clearly Q2 was not the bottom per $SQM’s CEO in the earnings release. Maybe we are at bottom now in mid Q3, maybe not. Team China will continue to produce some product at a loss to maintain control until mkt growth forces price up. China lepidolite/Africa 1 / “The West” 0.
Sobering commentary from JL. Clearly the analysts (and us plebs)...
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