Expectations for Lifting Zimbabwe's Lithium Export Ban Unmet; Chinese-Funded Enterprises Respond

The main contract for lithium carbonate rose by 7.10% intraday on March 24, reaching 154,400 yuan/ton. On the news front, Zimbabwe's lithium export ban has been in place for nearly a month, with no news of its lifting. The duration of the impact may exceed previous market expectations. Market participants at the end of February had estimated that the impact of Zimbabwe's export policy adjustment on the market would last for about one month. Chinese-funded enterprises with lithium resource investments in Zimbabwe have learned that their local mines and lithium salt companies are still operating normally, but the export of lithium concentrate remains suspended. The local export ban has not been accompanied by further detailed regulations. Regarding when exports can resume, all parties are currently in active communication. The company currently maintains its inventory. (Shanghai Securities News)