Lithium Surges to Over 2-Year High
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Lithium carbonate futures have surged to over CNY 170,000 per tonne, marking a nearly 30% increase since the start of the year, driven by strong demand for power storage and limited supply. The Chinese government has reduced export rebates for battery producers, prompting manufacturers to secure lithium orders. Additionally, plans to double EV charging capacity and increased spending on power storage bolster the outlook for lithium. However, 27 mining permits were canceled in Jiangxi, and CATL's Jianxiawo lithium mine faced activity suspension amid regulatory actions.
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