Silly lithium money
Business briefs from the Chinese media โ Wednesday November 2
Silly lithium money: In the first three quarters of the year, the net profits of nine listed lithium mining companies more than doubled, including market leaders Tianqi Lithium ๅคฉ้ฝ้ไธ with 15.98 billion yuan ($2.19 billion) and Ganfeng Lithium ่ตฃ้้ไธ with 14.79 billion yuan ($2.02 billion). On October 28, the price of lithium carbonate was 559,000 yuan ($76,668) per ton.
Auto and EV sales down slightly in October: According to preliminary statistics by the China Passenger Car Association released today, retail sales of passenger cars in October were 1.910 million units, a year-on-year increase of 11.4% and a month-on-month decrease of 0.7%. This included New Energy Vehicles (NEVs) of 550,000 units, a year-on-year increase of 11.4% and a month-on-month decrease of 10%.
Steel profits are down but so are emissions: According to the China Iron and Steel Association, national steel production in the first three quarters was 781 million tons, a year-on-year decrease of 3.4%, and the total profit of steel enterprises was 92.8 billion yuan ($12.72 billion), a decrease of 71.34%. Over the same period, total energy consumption decreased by 4.1% and sulfur dioxide emissions decreased by 19.48%.
