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HK-listed Lithium Stocks Plunge as CATL Reportedly Plans to Reopen Yichun Lithium Mine in Early Dec
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CATL (03750.HK) plans to reopen its lithium mine located in Jinxiawo, Yichun, in early December, Bloomberg, citing people with the knowledge of the matter, reported. The company has requested suppliers and partners to prepare equipment, chemical materials, and human resources, and has notified refineries gathering raw materials from the mine. However, this initiative does not guarantee regulatory approval, and the timeline may still be adjusted as it is currently awaiting the approval. Concerns over a sharp increase in lithium supply prompted a plunge in H-share lithium stocks today (21st), with GANFENGLITHIUM (01772.HK) and TIANQI LITHIUM (09696.HK) skydiving 11.9-12.5% throughout the day. CATL closed down 3.7%, with a turnover of HKD3.135 billion. AASTOCKS Financial News Website: www.aastocks.com |
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