Traders are bracing for lithium prices to spike this week after battery giant Contemporary Amperex Technology suspended production at a major mine in China, unleashing a huge rally in producers of the battery material.
CATL, the world’s largest manufacturer of electric vehicle batteries, said its Jianxiawo lithium mine in China’s Jiangxi province would temporarily halt operations for at least three months after the company failed to extend a key mining permit, which expired on August 9, according to Bloomberg.
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