Chinese lithium miner tips prices to fall 25pc in 2023

| Lithium is going to get less expensive in 2023, according to a Chinese supplier of the battery metal, potentially offering some relief to electric-vehicle makers squeezed by soaring costs.

More mine supply is expected to push the lithium market into a surplus next year and help soften prices.“We believe the gradual, downward trend for lithium will continue next year,” Mr Wang said, predicting a fall of around a quarter from current levels that will still leave the company with “good” profits. Prices would not fall off a cliff as the market remains tight, said Mr Wang, whose company operates mines in Zimbabwe and Canada.

Benchmark prices in China are still about twice as high as the start of 2022 – despite declining this month – asMr Wang said he saw lithium carbonate prices drifting to about 400,000 yuan a ton in 2023. That compares with 527,500 yuan at present and a record of nearly 600,000 yuan in mid-November, according to data from Asian Metal. The lower level would still offer good margins for Sinomine, he said.

“Over the next six months, demand softness is likely to dominate the lithium price discussions as demand in China is challenged by zeroing subsidies and surging COVID-19 cases,” said Alice Yu, senior analyst at SSinomine wants to expand output worldwide, just as geopolitical tensions are growing with the US, Canada and others who are moving to restrict China’s role in the EV supply chain.

MASS MURDER IN WV WEST VIRGINIA! Half the neighborhood is DEAD due to poisoned drugs over four years so this corrupt government can steal $3 BILLION DOLLARS in Pharmaceutical Trust Fund Settlements. Happened right under our noses and they try to blame COVID!

Outstanding reporting - Sinomine thinks it is cooling off - no chance

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dozens of Iran protesters facing charges punishable by death – rights groupAt least 100 detainees identified by Oslo-based Iran Human Rights face capital punishment, including at least 11 already sentenced to death
Source: GuardianAus - 🏆 1. / 98 Read more »

Atlassian billionaire Scott Farquhar pulls $346m bid for renewables groupThe consortium of Scott Farquhar’s Skip Essential Infrastructure Fund and US equity firm Stonepeak called off the takeover on Wednesday morning.
Source: theage - 🏆 8. / 77 Read more »

Sun's out, bums out: The group baring all in the name of body positivityIt's a hot summer's day in the nation's capital and members of Get Naked Australia are cooling off by taking it all off, ready to pose in a particularly colourful photo shoot. Oh Justin, this is fabulous. More ABCNews like this please, Justy JustinStevens Stunning and brave.... Sun worshippers with their 'Ah! Sol!'
Source: abcnews - 🏆 5. / 83 Read more »

'Bomb cyclone': Brutally cold winter storm kills at least 37 people with toll expected to climbWhat’s causing such extreme blizzard conditions across parts of the US? Well, it all comes down to a phenomenon known as “Lake Effect snow”. Read more here: Only if Yankees spend dollars 💸💰💸 on the People in stead of War/ Properganda media/ think tank. Mother Nature
Source: SBSNews - 🏆 3. / 89 Read more »

Singapore sentences sharemarket manipulator to 36 years in jailQuah Su-Ling, who got 20 years, and John Soh were found to have manipulated the share prices of Blumont Group, Asiasons Capital and LionGold. Will his buttocks experience the sweet kiss of the cane? Now GoldmanSachs, blackrock, creditsuisse, the list continues.... ASIC over to you to investigate what this scum has done to the lithium market. What's that I hear? Silence? toothlesstiger pathetic weakas
Source: FinancialReview - 🏆 2. / 90 Read more »

The best advice I have ever been given: don’t be in a rushRob Wheals is the chief executive of gas pipeline operator APA Group. He answers our CEO Q&A. hope those pipe can be repurposed for something...
Source: FinancialReview - 🏆 2. / 90 Read more »