China’s Contemporary Amperex Technology Co. Ltd. (CATL) halted production for at least three months at its Jianxiawo lithium mine in Jiangxi province.
The suspension, triggered by the expiry of its mining permit on August 9, has fuelled speculation of wider supply cuts as Beijing seeks to curb overcapacity Analysts cautioned the move is unlikely to fundamentally change the market’s oversupplyOther analysts said prices may temporarily move away from “reasonable levels,” with greater upside potential if other Yichun mines face similar disruptions after September 30Citi analysts also expect no lasting supply deficit but see the suspension as a short-term boost to sentiment.Australian lithium stocks have jumped. As has the benchmark Australian index, the S&P/ASX 200 has hit a record high above 8852.
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