BUZZ-Lithium miners fall as prices plunge in China after moves to curb speculative trading
Lithium miners' shares fell as lithium prices in China dropped sharply after measures to curb speculative trading. The Guangzhou Futures Exchange's lithium carbonate contract fell 9%, reversing recent gains. Albemarle, SQM, Sigma Lithium, Lithium Americas, and Standard Lithium saw declines in their U.S.-listed shares.
U.S.-listed shares of lithium miners fall premarket
Lithium prices in China fall sharply, short-circuiting a rally, after the main exchange steps in to curb speculative trading and on a report that battery giant CATL (300750.SZ) could restart production at its flagship lithium mine
The most-traded lithium carbonate contract on the Guangzhou Futures Exchange closed daytime trading down 9% at 91,020 yuan ($12,801.15) per metric ton, hitting its lower limit and giving back most of this week’s gains
The contract on Thursday hit its highest since June 2024 at 102,500 yuan a ton
Albemarle (ALB.N) dips ~6%, while U.S.-listed shares of Chile’s SQM (SQMA.SN) (SQM.N) down 5.5%
Sigma Lithium (SGML.O) dips 6%
Shares of Lithium Americas (LAC.N) and Standard Lithium (SLI.N) were down 3% and 5.4%, respectively ($1 = 7.1103 Chinese yuan renminbi)
