Shares of lithium miners fall on low demand in China

American Lithium

15/08/2023 18:34

** Shares of lithium producers and miners continue to fall
as spot prices of lithium carbonate drop in China 
    ** MP Materials  MP.N  down 4.5%, Lithium America  LAC.N 
 LAC.TO  down 3.3% and Piedmont Lithium  PLL.O  falls ~3%
    ** Per Refinitiv, lithium carbonate spot prices (99.5%
Li2CO3 min battery grade, cif China Japan & Korea) averaged
$35/kg, steady since Monday  MB-LI-0029  
    ** New supply additions are easing market conditions,
National Australia Bank commodities research wrote in a note
 urn:newsml:reuters.com:*:nFWN39S1G9
    ** Sigma Lithium  SGML.O  down 2.1% and Livent  LTHM.K 
falls 2.5%
    ** Per Shanghai Metals Markets, lithium carbonate (99.5%
battery grade) was seen averaging $32,605/mT 
    ** "It is weak season and cathode producers have enough raw
materials inventory, no rush to restocking" - Shanghai Metals
Market insights 
    ** Chinese data on industrial output and retail sales showed
unexpected slowdowns earlier in the session




 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))