Critical Elements Lithium Corp V.CRE

Lithium carbonate prices sank

[dalesio_98]

https://tradingeconomics.com/commodity/lithium

Lithium carbonate prices sank to CNY 75,000 per tonne in August, the lowest in over three years, amid increasing concerns of oversupply. Lithium miners and producers continued to expand capacity and hunt for new reserves, with market players expecting global supply to soar by nearly 50% this year. This magnifies the current supply surplus amid the fallout of the battery glut due to government subsidies for firms across the supply chain. Additionally, hopes of eventual balance in the market drove Chile to signal it would aim to double output over the next decade, and the race to secure battery metals drove China to expand projects in Africa. Adding to the bearish pressure, the EU placed a 9% tariff on Tesla EVs produced in China, adding to trade barriers against China-based EV manufacturers ranging from 36.3% and 17%. Also, the US quadrupled duties on Chinese EVs to 00%, pushing against input materials for battery producers.
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