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在线翻译:
szdaily -> Markets -> 
EVE Energy likely to buy more lithium, cobalt
    2020-10-15  08:53    Shenzhen Daily

EVE Energy Co., a Shenzhen-listed producer of lithium-ion batteries for electric cars to earphones, is considering plans to step up purchases of key metals amid signs prices could soon rise from recent lows.

Huizhou, Guangdong-based EVE Energy, which has pacts with automakers including Daimler AG, has seen tentative signals of a recovery in lithium and cobalt prices in China, meaning there’d be an advantage to lock in additional supplies now, chairman Liu Jincheng said.

“We are seriously considering whether we can buy more while they are cheap now,” Liu said, adding that forecasts on the price outlook remain difficult.

The producer is weighing its metal purchasing plans as it seeks to expand output and narrow the gap on the world’s top battery makers. EVE Energy is the fifth-largest supplier to China’s electric vehicle sector, trailing behind competitors including Contemporary Amperex Technology Co. and BYD Co.

Prices of lithium chemicals plunged from mid-2018 as producers rushed to deliver more supply, overwhelming the pace of demand gains. The materials have stabilized in recent months, though remain at about half the level of peak values.

“We are expecting both Chinese domestic and seaborne lithium prices to stay flat for the next three months, and pick-up toward the end of the fourth quarter,” BloombergNEF’s head of metals and mining Sophie Lu said.

Cobalt prices have recovered as COVID-19 disruptions impacted supply, and there’s potential for China’s domestic prices to rise, she said.

Lithium prices are being supported by a recovery in demand for electric vehicles in China, according to Alice Yu, a Beijing-based analyst at S&P Global Market Intelligence.

(SD-Agencies)

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