Lithium

Several LFP manufacturers in China have raised prices or plan to do so as rising demand leads to supply constraints.

CATL has drawn up a preliminary plan to restart its Jianxiawo lithium mine in Yichun by early December, Bloomberg reported.

CATL's Jianxiawo mine has received reserve approval, bringing it one step closer to restarting production, Bloomberg reported.

Following the production halt at the CATL lithium mine on August 10, China's lithium carbonate prices surged by 24 percent at one point.

Tianqi Lithium rose nearly 11 percent in Hong Kong, while China's most active lithium carbonate futures rose by the daily limit of 8 percent.

CATL is still in talks with government agencies to renew the permit but is prepared to extend the suspension for several months, Bloomberg reported.

BYD and Tsingshan are backing out of multimillion-dollar plans to build lithium cathode plants in Chile, according to Reuters.

There have been frequent cases of LFP producers receiving large orders, and some of the big players are raising prices.

BYD acquired mining rights for two plots of land in a lithium-rich part of Brazil in 2023, Reuters reported.

A rumor -- later confirmed -- that CATL had suspended lithium production in Jiangxi sent shares of major lithium producers soaring.