The price of lithium seems to recover
(PresseBox) - After the crash of the lithium price, it went down less in April than in March. Now the tide seems to be turning.
Since the last days of April, the price trend has reversed, it is going up again. The crash came because the price had climbed to extreme heights and demand was at a seasonal low. This is because subsidies in Europe and China were coming to an end. Most lithium is needed for electric vehicles. And in this sector, the demand is great in the long term. Chile s announcement to put the lithium industry under state control raised eyebrows. This in turn did good for the share price performance of Australian lithium producers. And also, the lithium price. Chile has the world s largest lithium reserves and is the second largest lithium producing country. Australia is in first place. China s actions also contributed to the drop in lithium prices. The problem there is that sales of electric vehicles are growing too fast. In order for Chinese production to catch up, China has scaled down domestic production of e-cars. This is because there is a lack of critical metals in the country and the grid connection is not the best either, at a time when the signs are pointing to deglobalization.
In the long term, the demand for lithium will increase, there is pretty much unanimity in the industry. Lithium has economic and strategic potential. Deglobalization is driving resource nationalism. Last year, by the way, Mexico declared its intention to nationalize its lithium reserves. Investments in lithium companies like ION Energy or Targa Exploration, which are currently not affected by the covetousness of the project home countries, should be under a good star.
Targa Exploration - https://www.commodity-tv.com/ondemand/companies/profil/targa-exploration-corp/ - has added three lithium projects, also located in Quebec, to its lithium projects in Quebec. The projects are located in promising lithium zones.
ION Energy - https://www.commodity-tv.com/ondemand/companies/profil/ion-energy-inc/ - owns two lithium projects in Mongolia. Urgakh Naran covers 80,000 hectares of land. In addition, there is the flagship project Baavhai Uul. Currently, ION Energy has also added another lithium project, in the Northwest Territories.
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Datum: 18.05.2023 - 02:28 Uhr
Sprache: Deutsch
News-ID 683907
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