Tsingshan Holding Group to invest $1.57 bln in lithium-ion battery plant

China-based nickel and stainless steel producer Tsingshan Holding Group will invest 10.3 billion yuan ($1.57 billion) to build a lithium-ion battery plant in the southern China province of Guangdong, it said on April 1.

The project will be led by Ruipu Energy, the company’s battery division, and will have an estimated annual production capacity of 30GWh.

The first phase of the project will start construction in mid-2021 and target an annual output of 15GWh by 2023. The expansion works for the second phase will start in 2022 with production targeted for 2024.

The new battery plant aims to meet demand for new energy in Southern China in light of the need for shorter supply chains, the company said.

Lithium is a key ingredient in the manufacture of batteries for electric vehicles and for energy storage systems, and lithium demand for both uses is expected to soar in the coming years.

Domestic Chinese lithium spot prices rose on Thursday on fresh restocking by consumers after three weeks of stability.

Fastmarkets’ assessment for the lithium carbonate, 99.5% Li2CO3 min, battery grade, spot price range exw domestic China rose to 88,000-92,000 yuan ($13,398-14,000) per tonne on April 1, up by 2,000-3,000 yuan per tonne (2.9%) from 85,000-90,000 yuan per tonne in the prior week.

The lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, spot price range exw domestic China also rose by 4.1% week on week to 73,000-78,000 yuan per tonne on Thursday, having remained at 70,000-75,000 yuan per tonne since March 4.

Both prices have been rising steadily since the start of 2021 amid increased downstream buying and tightening supply.

What to read next
Conversations and panel discussions at the Institute of Scrap Recycling Industries Roundtables in Chicago on September 14-16 largely centered around market uncertainty and navigating complex geopolitical landscapes during a time of energy transition and low domestic demand
According to recent findings by motoring association, RAC, rising charging costs could hinder electrification in the UK
The Singapore Exchange (SGX) launched a set of battery raw materials derivatives on Monday September 26, including contracts for cobalt metal, cobalt hydroxide, lithium carbonate and lithium hydroxide
Eagle Metals Inc is looking to diversify its copper and stainless steel supply chains in the face of soaring energy costs and rising demand, which could create supply deficits, according to the specialty reroll mill’s top executive
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday September 26, with the strong dollar and demand concerns still weighing on the market
Following market feedback on the discrepancy between machine shop turnings and other ferrous scrap grades in the Houston dealer selling market, Fastmarkets proposes a realignment of the remaining grades in Houston, effective from the October 2022 monthly settlement.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.