China's Lithium Oversupply Likely to Persist -- Market Talk

Dow Jones12-05

0456 GMT - China's lithium oversupply is likely to persist, Daiwa Capital Markets analysts say in a research report. Several big projects are slated to increase lithium production in 2H 2024 and likely in 2025, the analysts note. Daiwa forecasts a 12%-28% increase in lithium supply worldwide over 2025-2026. It also sees scope for China's current lithium carbonate equivalent price of around CNY78,000 per ton to fall to CNY70,000-CNY75,000 per ton, based on its own analysis. Daiwa cuts Ganfeng Lithium's H-share rating to underperform from outperform and the target price to HK$23.00 from HK$29.00. It initiates coverage of Ganfeng Lithium's A-shares with an underperform rating and target price of CNY37.00. The H-shares are 5.6% lower at HK$22.85; the A-shares are last quoted at CNY39.80. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

December 04, 2024 23:56 ET (04:56 GMT)

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Daiwa cuts Ganfeng Lithium's H-share rating to underperform from outperform and the target price to HK$23.00 from HK$29.00. It initiates coverage of Ganfeng Lithium's A-shares with an underperform rating and target price of CNY37.00. The H-shares are 5.6% lower at HK$22.85; the A-shares are last quoted at CNY39.80. 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Several big projects are slated to increase lithium production in 2H 2024 and ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EVS.SI","symbol_name":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2489101324","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489101324","pubTimestamp":1733374560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0456 GMT - China's lithium oversupply is likely to persist, Daiwa Capital Markets analysts say in a research report. 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