{"id":1432237,"date":"2022-04-12T08:00:56","date_gmt":"2022-04-12T12:00:56","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1432237"},"modified":"2022-04-12T08:01:00","modified_gmt":"2022-04-12T12:01:00","slug":"chinese-lithium-carbonate-has-surged-nearly-500-in-the-past-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinese-lithium-carbonate-has-surged-nearly-500-in-the-past-year\/","title":{"rendered":"Chinese Lithium Carbonate Has Surged Nearly 500% in the Past Year"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchinese-lithium-carbonate-has-surged-nearly-500-in-the-past-year%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1432237&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>(Bloomberg) &#8212; Lithium is showing signs of losing momentum &#8212; at least in China &#8212; after a powerful rally that carried prices to what Elon Musk called \u201cinsane levels\u201d.<\/p>\n<p>Most Read from Bloomberg<\/p>\n<p>Chinese lithium carbonate, which has gained almost 500% in the past year, slipped slightly on Monday after steadying in the past week, according to Asian Metal Inc. The nation\u2019s worsening coronavirus outbreak has upended the electric-vehicle supply chain, and buyers\u2019 resistance to high prices is clouding the demand outlook.<\/p>\n<p>\u201cDownstream demand is weakening as the pandemic hinders carmakers\u2019 production in China and inventory levels remain high at battery manufacturers,\u201d said Maria Ma, an analyst at Shanghai Metals Market. \u201cCompanies are also pressured by the elevated lithium prices and there\u2019s strong price resistance.\u201d<\/p>\n<p>A slew of global automakers including Tesla Inc. and Volkswagen AG have been forced to suspend production at their factories in Shanghai after a citywide lockdown, while Chinese EV upstart Nio Inc. said it had halted production and delayed deliveries. Contemporary Amperex Technology Co., the world\u2019s largest battery manufacturer, is isolating workers in a so-called closed loop at its main factory in Ningde.<\/p>\n<p>A prolonged lockdown in Shanghai could damp overall EV sales this year and ease a forecast deficit for the lithium market, according to Alice Yu, senior metals analyst at S&#038;P Global Commodity Insights. Still, prices in China could find support in the short-term as logistical delays might prevent feedstock imports from reaching refineries and downstream users, she added.<\/p>\n<p>The eye-popping rally has put lithium under the spotlight. Tesla\u2019s chief tweeted that the EV giant may consider mining and refining the metal directly at scale. Carmakers in China are grappling with surging raw materials\u2019 costs, and several have raised sticker prices in response. Last month, officials in Beijing summoned market players across the supply chain to discuss \u201ca rational return\u201d in lithium prices, just as risks around cost inflation flare.<\/p>\n<p>Most Read from Bloomberg Businessweek<\/p>\n<p>\u00a92022 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Lithium is showing signs of losing momentum &#8212; at least in China &#8212; after a powerful rally that carried prices to what Elon Musk called \u201cinsane levels\u201d.Most Read<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1432237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1432237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1432237"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1432237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1432237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1432237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1432237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}