Lithium Americas (Argentina) Corp. (TSX: LAC) (NYSE: LAAC) Gains with Lithium Miners following CATL Possible Shutdown
September 11, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas for traders, including mining stocks reports on trading for Lithium Americas (Argentina) Corp. (TSX: LAC) (NYSE: LAAC), an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles.
Global lithium stocks from Asia to Australia to North America got a boost today on news that Chinese battery maker CATL may potentially shut down one of China's lithium mines, due to falling lithium prices, and higher production costs.
If this happens it will create a more balanced market for other lithium miners, potentially cutting Chinese lithium production by 8%.
For miners facing a slumping market due to less demand for EV's in North America, this is a big positive for lithium prices.
Lithium Americas (TSX: LAC) is just one of the winners from this news and made the TSX top percentage gainer list on speculation for the sector. The stock is trading at $3.3800, up 0.4700, gaining 16.0959 on volume of over 350,000 shares. The stock had a day's high of $3.55.
Contemporary Amperex Technology Co Ltd (CATL) is a China-based supplier of power battery systems. The Company is primarily engaged in the research, development, manufacture and sales of new energy vehicle power battery systems and energy storage systems. The Company's main products include power battery systems, energy storage systems and lithium battery materials. The Company's products are mainly used in the fields of electric passenger cars, electric buses and special vehicles, such as electric logistics cars. The Company distributes its products within domestic market and to overseas markets. https://www.catl.com/en/
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