CATL's RMB 6.4 billion restructuring proposal was approved unanimously by lithium miner Sinuowei's creditors, according to local media.
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Overseas lithium prices are already at a 20 percent premium to Chinese prices, which is expected to provide support for lithium prices as the export window opens, analysts said.
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In January and February, insurance registrations for passenger cars in China were down more than 25 percent from a year earlier, Li Auto CEO said, citing insurance registration data.
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Lithium miners in Yichun, nicknamed the "lithium capital of Asia," are being suspended for production violations that analysts expect will affect 13 percent of the global lithium supply if production is halted for a month.
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Industrial-grade lithium carbonate prices in China today fell below 400,000 yuan ($58,000) per ton, a pullback of more than 30 percent from the November peak.
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Chinese Academy of Sciences academician Ouyang Minggao said he expects the price of lithium carbonate in China to drop to between RMB 350,000 yuan ($50,890) and 400,000 yuan per ton in the second half of this year.
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