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<Research>BofAS: CATL's Yichun Lithium Mine Suspension Reduces Supply; GANFENGLITHIUM/ TIANQI LITHIUM Upgraded to Buy w/ TPs Elevated
Recommend 17 Positive 21 Negative 32 |
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CATL (03750.HK)'s Yichun lithium mine in Jiangxi suspended production since 10 August due to the expiration of its mining license, BofA Securities released a research report saying. The reduction in CATL's supply, coupled with peak season demand, may lead to a monthly destocking of 5,000 to 10,000 tons of lithium carbonate equivalent (LCE), with inventory potentially decreasing to around 100,000-110,000 tons by the end of 2025, BofA Securities added. The broker upgraded the H-shares of GANFENGLITHIUM (01772.HK)/ TIANQI LITHIUM (09696.HK) from Underperform to Buy, and elevated its target prices from $17/ $21 to $35/ $50. AASTOCKS Financial News Website: www.aastocks.com |
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