CATL's Jiaxiaowu Lithium Mine Reacquires Land Use Opinion Letter

On June 18, the last working day before the Dragon Boat Festival, the price of lithium carbonate dropped significantly. By the end of the day, the main lithium carbonate futures contract 2609 plunged over 6%, falling to around 160,000 yuan, a decrease of more than 20% from the previous high. In terms of spot prices, the latest data from Shanghai Steel Union shows that on June 18, the average market price of battery-grade lithium carbonate in the morning market dropped by 800 yuan from the previous working day to 168,800 yuan/ton. In addition to routine factors such as hedging demand before the festival, an unnamed analyst told Interface News that there are rumors that production at the Xianxiaowuo lithium mine in Yichun, owned by Ningde Times, is accelerating, leading to a general expectation of future supply recovery in the market. In the afternoon, it was learned from the Jiangxi Provincial Department of Natural Resources Land Space Use Control Division that Yichun Times New Energy Mining Co., Ltd. had obtained the "Pre-approval and Site Selection Opinion Letter for the Construction Project Land" for the Xianxiaowuo lithium mine project on June 17, with a validity period from June 17, 2026 to June 17, 2029.