China lithium carbonate falls to a near-ten-month low of CNY 100,000 per tonne
Updated
Summary
Lithium carbonate prices in China fell to CNY 100,000 per tonne in October, their lowest level in nearly ten months. The source attributed the move to concerns about softer demand alongside ample supply.
Why it matters
The supply picture included a reported 175,000-tonne increase in Chinese stockpiles after industry group SMM changed its inventory-data methodology; the increase was double previous estimates. Separately, Mineral Resources restarted the Bald Hill lithium mine after an 18-month suspension, and Core Lithium restarted its Finniss project.
On the demand side, the European Union is set to cap imports of Chinese hybrid electric vehicles at 350,000 units annually starting next year. The European Commission said the expected cap is expected to halve China's market share across the bloc and limit orders from battery manufacturers in the region.