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The Chinese domestic spot battery-grade lithium carbonate price fell by 2.7% on Thursday April 16 after suppliers dropped offers again to stimulate a reluctant market, while the Asian seaborne market finally ended its steady streak.
The three-month zinc price on the London Metal Exchange was up during morning trading on Thursday April 16, with price action supported by a fresh outflow of some 600 tonnes, while steady buying over the morning saw copper hold on to recent gains.
The Covid-19 pandemic has rapidly hit global electric vehicle (EV) production and sales, and so the broadly anticipated reshuffle of China’s EV battery supply chain is likely to speed up in 2020.
Metals prices are in limbo this morning, Thursday April 16, while participants weigh up the stark truth that the global economy is experiencing a slump in demand with the potential for a rebound given all the monetary and fiscal stimulus being thrown at economies around the world.
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