The lithium market is showing signs of recovery, with lithium carbonate futures opening 2% higher and back above 120,000 yuan in China, hinting at a potential end to the recent price slump. This rebound follows a period of significant volatility, driven by demand fluctuations and a supply glut. The CEO of Liontown Resources noted the price correction was demand-driven. Meanwhile, the market has seen a surge in short bets against major lithium producers like Albemarle and Pilbara Minerals, now deemed risky due to the thinning supply glut and the potential for a short squeeze, with Pilbara Minerals shorts at record levels. Additionally, the broader commodities market is showing mixed signals; INE crude oil rises 1.2%, while Shanghai Gold drops 0.6% to 505 yuan per gram. Iron ore is set for a $100 test after a slump, with futures dropping by over 2% and below the key 800 yuan mark. The situation is compounded by challenges in China's mining sector, where sagging prices and high extraction costs have led to widespread production suspensions among Jiangxi lithium carbonate producers.
⛏️ A survey of 11 Jiangxi lithium carbonate producers published by Mysteel on Feb. 28 found widespread production suspensions in February. https://t.co/KQ97e1Nkdw
Iron ore faces China fundamentals and sentiment hurdles: Russell https://t.co/fi3nV6BpSe https://t.co/CyhgQ0Newk
#China lithium boom slows as sagging prices batter high-cost miners https://t.co/cjWYiJ4xK9
⚡China's most active #IronOre futures dropped by over 2% on Thursday, and down below the key 800 yuan mark, for the first time since October. Singapore's April contract tumbles by 4%. https://t.co/l88YV55xrQ
⚡The most active #lithium carbonate futures tumble by 5% in Guangzhou. #China https://t.co/yIFAa9Ob9X
A slump in the price of lithium, a key raw material in electric car batteries, is dragging on China's mining of the ultralight metal which together with a costly extraction process is prompting a reassessment of output growth and new project plans https://t.co/3xRWyjt2XZ
🔴 CHINA'S MOST ACTIVE COKING COAL CONTRACT (DJMCV1) FALLS BY OVER 3%
China lithium boom slows as sagging prices batter high-cost miners https://t.co/r7nqdtZltQ https://t.co/0kOsVra8yX
⚠️ ANALYSIS-CHINA LITHIUM BOOM SLOWS AS SAGGING PRICES BATTER HIGH-COST MINERS Full Story → https://t.co/uO0YDUAmDq
Tribeca reckons the lithium price has bottomed. Recent price action seems to agree. Lithium short squeeze ahead? $LIT #lithium 📊 @markets https://t.co/K5nPcGb2hK
The Big Lithium Short Gets ‘Dangerous’ on Lower Supply Outlook Pilbara Minerals shorts at record levels on lithium price fall https://t.co/Hjjffu3fy0
Short bets worth billions against some of the world’s largest lithium producers like Albemarle and Pilbara Minerals are under threat as a supply glut shows signs of thinning https://t.co/t4K4wqBa6h
Lithium price correction was demand-driven, #Liontown Resources CEO says in an interview https://t.co/cC9rMSlD3o
Iron Ore Set for $100 Test After Slump on China Demand Fears Steelmaking ingredient declines more than 4% on Wednesday Cost support to kick in below $100 a ton, CBA’s Dhar says https://t.co/ROMjyxo4sb
⚡#Lithium carbonate futures open 2% higher and back to above 120,000 yuan in #China on Wednesday. INE crude oil rises 1.2%. #OOTT #Nickel +1%, #copper +0.4%, #aluminum and #zinc flat. #Tin -0.6%. #IronOre drops 0.6%. Shanghai #Gold drops 0.6% to 505 yuan per gram. https://t.co/HsB22TQIHY
After a spectacular bust, battery-metal lithium is showing tentative signs of life on speculation the retracement that convulsed the market last year has forced the conditions for a recovery https://t.co/WPLIKkpoLr