China Metals & Mining_ Lithium - limited net supply improvement, maintain Sell on Tianqi-H_A and Ganfeng-A

13 February 2025 | 9:55PM HKT China Metals & Mining Lithium - limited net supply improvement, maintain Sell on Tianqi-H/A and Ganfeng-A The fundamentals of the lithium market have improved on both demand and supply side, as supply responded to the poor pricing, while demand from China EV and ESS accelerated. Nevertheless, the path of supply response on net bases (with a focus on Chinese producer projects in this report) is disappointing in our view - despite the deep cut in both output and capacity of ongoi ...