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<Research>CLSA: CATL's Yichun Lithium Mine May Be Applying for Renewal; Lithium Prices Expected to Face Pressure
Recommend 10 Positive 23 Negative 5 |
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According to channel checks, CATL (03750.HK) (300750.SZ) may have made an important step to submit materials to the Ministry of Natural Resources for the renewal of its Yichun lithium mine in Jiangxi, CLSA said in its research report. In the broker's estimate, CATL may be seeking approval for "comprehensive utilization" by reporting very low lithium grades, which would be a shorter process compared to a full lithium mining permit. CLSA also estimated lithium prices to face downside pressure. Specifically, lithium carbonate prices are likely to fall back below RMB70,000 per ton in a short time, reflecting a return to market oversupply. The broker rated CATL's H-shares as Outperform. AAStocks Financial News |
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