Rare discounts offered by Chinese battery giant CATL to automakers have accelerated a plunge in lithium prices, and the market is set to drop a further 25% with supply growth outpacing demand, analysts and traders say.
However Allkem's chief sales and marketing officer, Christian Barbier, said the price slide in China "needed to happen" and was "helpful", and said it was exacerbated by the country's battery makers jostling for market share."So that's why we're not too concerned about the overall fundamentals and the future direction of prices," Barbier said.
"Therefore it is quite a stretch to find the bottom for lithium prices because lithium producers will remain profitable under much lower prices," S&P Global Commodity Insights analysts said in comments to Reuters.The price decline has been sharp. Chinese spot prices for lithium carbonate have fallen from near an eyewatering 600,000 yuan a tonne in mid-November to below 400,000 yuan currently.
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