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<Research>Citi Predicts CATL (03750.HK) Production Halt to Drive Lithium Prices to RMB80K Per Ton in Coming Days
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According to Reuters (10 August), CATL (03750.HK) temporarily halted its lepidolite mine production from 9 August due to the renewal of mining license for the Yichun project, although the company has not officially responded, Citi Research issued a research report saying. The broker estimated that the sentiment on supply disruption will drive lithium prices to rise to RMB80,000 per ton in the coming days, before returning to the fundamental trading price range of RMB70,000-80,000. According to Citi Research's industry database tracker, lithium elements are forecasted to account for approx. 11% of battery cell costs in 1H25. The broker assumed CATL fully absorbs the cost pressure, and predicted that a RMB10,000 hike per ton in lithium prices may bring about a 4% downside risk to CATL's gross profit level, but this is still manageable. AASTOCKS Financial News Website: www.aastocks.com |
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