Shanghai (Reuters) – Chinese Battery Gigant Catl (300750.SZ) continues to operate in Lithium Litij Litij Lepidolite in the Chinese Province of Jiangxi, USB said in a note on Thursday, four months after the reports that the company had suspended production in the area launched the rail in the sections of Rudar Lithium.
The investment bank said in the note that the mine was “currently continuing” with operations based on information from the Shanghai Metals market (SMM), the information provider. The note did not give more details.
UBS refused to comment on Friday, and Catl did not immediately answer the questions E -still from Reuters. SMM did not immediately answer the questions e -after -hours.
Two metal traders who spoke on a condition of anonymity said on Friday that they had heard mining in the area.
The Catl mine in the southern Province of Jianxi was the main contribution to the rapid growing stock of lithium in China, the world’s top processor of the battery material. Reports of his closure in September caused the Liti’s shares to gather sharply.
In response to Reuters questions, Catl then said that he adapted to the production of lithium in the Yichun province, Jiangxi Province.
Lepidolite mining is more expensive than alternative methods of removing the lithium from the salty solution.
UBS analysts have attributed the decision to the low stock and the company’s ability to reduce the cost of mixing production from a place with ore with a higher rating.
The best -selling contract for the Lithium of the Carnival Futures on the Guangzhou Futures Stock Exchange was closed on Friday at 77,800 Juan ($ 10,675.81), which is 0.3% compared to near Thursday. Prices were reduced by 4.75% of the two -month high -carved 20th January.
Catl -the price of shares on the shenzhen shares is closed on Friday at 261.28 Yuan per share, which is 3.2% compared to Thursday.
($ 1 = 7.2875 Chinese Yuan Renminbi)
(Reporting Reuters Shanghai; Emelia Sithole-Matarise Mounting)
