Contemporary Amperex Technology's closure of lithium mines triggers a rise in American lithium mining stocks, with Albemarle leading the pack.

The world's largest lithium mining company, Albemarle Corp, rose 9% in pre-market trading, leading its US counterparts. Earlier, a large lithium mine in China suspended operations, sparking speculation that the Chinese government may suspend other projects to address overcapacity issues. Other US lithium mining stocks were also on the move: SQM rose 6.5%, Livent Corporation rose 9.3%, Sigma Lithium Industries rose 13%, and Argentina's American Lithium Corp rose 8.9%. The background to this stock price increase is that battery giant Contemporary Amperex Technology Co Ltd (CATL) shut down its lithium mine in Jiangxi province, causing lithium prices on the Guangzhou Futures Exchange to hit the daily limit-up. According to data from Bank of America, the lithium mine's production accounts for about 6% of global total production. In European lithium mining stocks, AMG Advanced Metallurgical Group, listed in Amsterdam, saw a surge of 9.6%, Eramet Group, listed in Paris, rose 5.8%, and MetalNRG, listed in London, also rose by 5.8%. In the Asian market, Tianqi Lithium Corp soared by 19% in the Hong Kong stock market, Ganfeng Lithium Co Ltd skyrocketed 21%, and Australian lithium mining stocks also rose.