China lithium futures near 3-month high after Zangge announces production halt
Miner Zangge Mining (000408.SZ), opens new tab said in an exchange filing that it had halted lithium production at a mine in Qinghai province following orders from local officials.
The most active lithium carbonate futures on the Guangzhou Futures Exchange jumped more than 4% in afternoon trade to hit 69,980 yuan ($9,749.51) per metric ton, the highest since April 21.
"Speculative sentiment is pretty strong right now but the actual impact will be limited, said Chen Jing, a Beijing-based analyst at Galaxy Futures, referring to the production suspension of a subsidiary of Zangge.
($1 = 7.1778 Chinese yuan)
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