Australian lithium miners rally on report that China's CATL suspends lithium mines

Reuters

Australian lithium miners rally on report that China's CATL suspends lithium mines

2024 9월 11 일, 오전 1:34 GMT

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Adds detail from UBS report

MELBOURNE, Sept 11 (Reuters) -Shares in Australian lithium miners including Pilbara Minerals PLS.AX and Mineral Resources MIN.AX surged more than 10% on Wednesday after a report that Chinese EV battery maker CATL 300750.SZ has suspended two lepidolite mines.

The report dated Sept. 11 by UBS analyst Sky Han said the unconfirmed suspensions could cut some 8%, or around 5,000-6,000 metric tons, of China's monthly LCE (lithium carbonate equivalent) production.

"It's not the first time for us to hear CATL to cut/suspend lithium production in Jiangxi. Although the previous news turned out to be speculation, we get higher conviction this time," she wrote.

"According to our channel checks with several contacts, CATL finally decides to suspend its lithium lepidolite operation in Jiangxi after a meeting on 10 September."

CATL had no immediate comment.

Reporting by Melanie Burton; Additional reporting by Siyi Liu in Beijing; Editing by Tom Hogue and Sonali Paul

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Australian lithium miners rally on report that China's CATL suspends lithium mines

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