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China lithium futures fall on oversupply
Lithium futures in China experienced a significant decline of about 25% in September, with prices falling below 120,000 yuan ($17,900) per ton, down from over 160,000 yuan at the start of the month. This downturn is attributed to overproduction, weak actual demand for electric batteries, as well as factors such as tax hikes, the slowing Chinese economy, and global trade barriers. Experts fear that the demand capacity to absorb current production levels is being pressured amid these challenges, prompting authorities to suspend new projects in the lithium sector.
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