China’s CATL says plans to adjust lithium production in Jiangxi
-Chinese battery giant CATL (300750.SZ), opens new tab plans to adjust its lithium production in the southern province of Jiangxi, the company said on Wednesday.
A slump of prices of the metal used mainly for electric vehicle and solar batteries has forced many global lithium producers to scale back production and cut jobs.
The huge CATL-owned lithium mine in the Yichun city in Jiangxi province is a major reason for the rapidly growing supplies in China.
However, the cost of producing the battery material from lepidolite, a hard type of lithium ore, is too high analysts said.
CATL told Reuters on Wednesday after Asia trading:
Based on recent lithium carbonate market conditions, the company plans to make adjustments on lithium carbonate production in Yichun,
That was in response to Reuters’ questions seeking comment after an analyst report that said CATL had suspended its huge lepidolite mine which boosted lithium futures prices and some global companies’ shares.
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China’s CATL says plans to adjust lithium production in Jiangxi, source
