News: ESS Tianqi Lithium Terminates Plan Of Acquiring Essential Metals, page-61

https://www.marketscreener.com/amp/...-Chile-plan-stokes-concerns--43618000/?espv=1

Bets on Aussie lithium miners rise as Chile plan stokes concerns
Today at 02:44 am

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Japan announces subsidies for lithium projects

China lithium prices rally on improved demand expectations

MELBOURNE, April 24 (Reuters) - Expectations that demand for Australian lithium will grow boosted Sydney-listed miners' stocks on Monday after Chile unveiled plans to take control of its output of the metal essential for electric vehicle (EV) batteries.

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MARKET OUTLOOK

Prices of lithium in Wuxi, China, which fell after news of the policy broke last week, rallied 14.8% on Monday given expectations of an upcoming demand recovery.

"The jump in futures is mainly driven by improved sentiment as the market sees limited scope for prices to fall further," said Zhang Weixin, an analyst at China Futures.

"News from Chile has limited impact as the decision won't have any imminent impact on supply in the near term."

Demand for lithium appears to be improving after stronger-than-expected first quarter sales of EVs in China, said Reg Spencer of broker Canaccord.
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"It probably makes Australian hardrock more valuable, because you are in a much more stable regulatory environment compared to Chile. Sure, there might be small increases in royalties payments from time to time, but we don't generally nationalise assets."
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