As Oversupply Deflates Lithium Bubble, IPO Market Keeps In High Spirits
As Oversupply Deflates Lithium Bubble, IPO Market Keeps In High Spirits
The lithium market is facing persistent turmoil as spot prices have continuously declined for more than a year.
由于现货价格持续下跌了一年多，锂市场正面临持续的动荡。
Supply shortages and speculation caused a lithium bubble in 2022, with spot prices reaching CNY 600,000 ($84,400)/ton. However, increased production and subdued Chinese demand caused the bubble to burst, with prices returning below CNY 100,000 ($14,000)/ton — levels not seen since July 2021.
供应短缺和投机活动导致了2022年的锂泡沫，现货价格达到60万元人民币（合84,400美元）/吨。但是，产量的增加和中国需求的疲软导致泡沫破裂，价格回到了每吨10万元人民币（合14,000美元）以下，这是自2021年7月以来从未见过的水平。
Yet, the supply pressures are persisting. Chile, boasting the world's largest reserves of lithium, is gearing up to open new extraction areas.
然而，供应压力仍然存在。智利拥有世界上最大的锂储量，正准备开辟新的开采区。
Bloomberg reported major players in the global battery supply chain, including Tianqi Lithium, LG Energy Solution, and French miner Eramet have engaged in discussions with Chilean authorities regarding the government's public-private model for lithium. The country's new lithium policy, led by President Gabriel Boric, involves the state taking a controlling stake in strategically significant lithium operations.
彭博社报道说，包括天齐锂业、LG能源解决方案和法国矿业公司Eramet在内的全球电池供应链的主要参与者已与智利当局就政府的锂公私模式进行了讨论。该国由总统加布里埃尔·博里奇领导的新锂政策涉及该州收购具有重要战略意义的锂业务的控股权。
According to a report from the Australian Department of Industry, Science and Resources, the market can expect further declines. As one of the key lithium suppliers, Australia forecasts an increase in spodumene, a lithium-bearing mineral, from 386,000 tons in 2022 to 633,000 tons in 2025.
根据澳大利亚工业、科学和资源部的一份报告，市场预计将进一步下跌。作为主要的锂供应商之一，澳大利亚预测，锂离子矿物锂辉石的产量将从2022年的38.6万吨增加到2025年的63.3万吨。
Now Read: Barrick Partners With Antofagasta To Prospect For Chilean Copper Amidst Tightening Global Supply
立即阅读：在全球供应紧缩的情况下，巴里克与安托法加斯塔合作勘探智利铜矿
Amidst the lithium market turmoil, Core Lithium, Australia's Northern Territory's sole lithium miner, has announced a halt at its Finniss operations. The company cites "tough" market conditions as the reason behind this decision, revealing plans for a significant write-down on the value of its assets. Core Lithium had already suspended early works on its proposed second mine, BP33, in December due to adverse market conditions.
在锂市场动荡中，澳大利亚北领地唯一的锂矿商Core Lithium宣布停止其在芬兰的业务。该公司将 “艰难” 的市场条件列为这一决定背后的原因，并透露了大幅减记其资产价值的计划。由于不利的市场状况，Core Lithium已经在12月暂停了其拟建的第二座矿BP33的早期工程。
However, asset management firm Janus Henderson (NYSE:JHG) sees a silver lining, considering lithium as one of its top commodity bets for 2024. Daniel Sullivan, the firm's head of global natural resources, believed the pullback in lithium prices may be nearing a bottom. In an interview for the Wall Street Journal, he anticipated normalization in the early part of the year and an increased M&A activity in lithium mining, particularly in Australia.
但是，资产管理公司骏利亨德森（纽约证券交易所代码：JHG）看到了一线希望，认为锂是其2024年的主要大宗商品押注之一。该公司全球自然资源主管丹尼尔·沙利文认为，锂价格的回调可能已接近触底。在接受《华尔街日报》采访时，他预计锂矿开采的并购活动将在今年年初实现正常化，尤其是在澳大利亚。
The most recent news from Australia aligns with Sullivan's expectations. Kali Metals, a lithium exploration company just listed on the Australian Securities Exchange (ASX), recorded a strong opening day, trading at A$ 0.435 — a 75% increase from its initial public offering price of A$ 0.25.
来自澳大利亚的最新消息符合沙利文的预期。刚刚在澳大利亚证券交易所（ASX）上市的锂勘探公司Kali Metals开盘表现强劲，交易价格为0.435澳元，较其首次公开募股价格0.25澳元上涨了75％。
The company was spun out of Karora Resources and Kalamazoo Resources, which will remain the top two shareholders. Despite the current challenges, the oversubscribed IPO raised A$15 million, showing the market's appetite for lithium exploration.
该公司从卡罗拉资源和卡拉马祖资源分拆出来，后者仍将是前两名股东。尽管当前面临挑战，但超额认购的首次公开募股筹集了1500万澳元，显示了市场对锂勘探的兴趣。
Also Read: As Spot Uranium Climbs To New Highs, Cameco Struggles To Regain Its Footing
另请阅读：随着现货铀攀升至新高，Cameco努力重新站稳脚跟
Photo: Shutterstock
照片：Shutterstock