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[compared with the price of around 100,000 yuan/ton at the beginning of the year, the price of battery-grade lithium carbonate has fallen by more than 25% so far this year.]

on september 11, news came out that ubs group issued a research report, which showed that according to multiple verifications by ubs analysts, catl finally decided to suspend its lithium mica mining business in jiangxi after the meeting on september 10.

on the evening of the 11th, catl responded to rumors of the suspension of production at jiangxi lithium mines: based on the recent lithium carbonate market conditions, the company plans to adjust its lithium carbonate production arrangements in yichun.

on april 20, 2022, yichun times new energy mining co., ltd., a subsidiary of catl, successfully won the exploration rights of ceramic clay (containing lithium) in the zhenkouli-fengxin county, yifeng county, jiangxi province with a bid of 865 million yuan. according to analysts from securities firms, the production scale of the above lithium mine can reach 200,000 tons of lithium carbonate per year based on the average lithium oxide grade.

as the price of lithium carbonate continued to fall, news broke in the market at the beginning of this year that the above-mentioned jiangxi lithium mine of catl had stopped production. at that time, catl refuted the rumor.

the above research report stated that this is not the first time that ubs has heard that catl has cut/suspended production at jiangxi lithium mines. although the previous news was eventually confirmed to be speculation, the news received this time is more reliable. the reason why catl chose to stop production at jiangxi lithium mines is that the current price of lithium carbonate is too low and has fallen below the cost line of catl's mining. the cash cost of lithium carbonate mined by catl is us$10,968/ton (excluding tax), or rmb 89,000/ton (including tax). according to data from shanghai nonferrous network, the spot price of lithium carbonate has been lower than catl's cash cost level since mid-july 2024.