So...we have a oversupply of Lithium Carbonate?Not good news for Lithium producers; Nemaska Lithium files for creditor protection amid market glut:
Some Highlights...
"...Canada’s Nemaska Lithium (TSX: NMX) has filed for creditor protection following attempts over several months to find new investors and continue operations.
The Montreal-based company is trying to avoid becoming the latest victim of an oversupply of the metal needed in the batteries for electric cars and high tech devices, which has squeezed the market this year.
The main factor behind the price slump is the avalanche of new supply that has hit the market over the past year, triggered mainly by mine expansions and a cut in government subsidies for purchasers of electric vehicles in China...."
https://www.northernminer.com/news/nemaska-lithium-files-for-creditor-protection-amid-market-glut/1003812456/ Christmas Cheers to the patient