China's lithium products prices continue to increase on large market demand, data from China's leading bulk commodities information platform www.100ppi.com showed.
The two leading companies in the industry, Blossom Lithium Industrial (Sichuan) Ltd. and Sichuan State Lithium Materials Co., Ltd., Monday lifted their quotations of lithium hydroxide and lithium carbonate by about 50,000 yuan/tonne, indicating the insufficient supply.
After the upgrading, quotation of lithium hydroxide for industry use is 160,000 yuan/tonne, quotation of lithium hydroxide for battery use to 180,000 yuan/tonne, quotation of lithium carbonate for industry use to 180,000 yuan/tonne and quotation of lithium carbonate for battery to 200,000 yuan/tonne.
Analysts from GF Securities say supplies of lithium concentrate and lithium carbonate in China's market are still not enough to meet the demand, which will continue to take lithium carbonate higher. Moreover, the number of new energy cars is expected to reach 5 million by 2020 and related companies will demand more materials.
Among A-share listed companies, companies including Tianqi Lithium Co., Ltd. (002466.SZ) and Zhonghe Co., Ltd. (002070.SZ) are engaged in lithium battery business.
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