Lithium Prices Tumble As Traders Brace For CATL Supply Surge

AI Summary

Lithium carbonate futures in China have fallen about 10% to a 10-week low amid speculation that CATL, a major EV battery manufacturer, will resume large lithium mining operations. This is expected to increase supply, impacting lithium prices globally.

Lithium carbonate futures in China fell ~10% over two trading sessions, dropping to a 10-week low of approximately 157,000 yuan ($23,175) per tonne on Tuesday following market speculation that China’s EV battery giant, Contemporary Amperex Technology Co. (CATL), may soon restart its massive Jianxiawo mine.  Reports from authorities in Jiangxi Province show that CATL’s Jianxiawo lithium mine in Yichun passed a preliminary land pre-review and site selection, with the Jiangxi Provincial Department of Natural Resources issuing a "Project…