Dynavolt Tech to build 5GWh lithium battery lines in Henan

Lithium battery stock market rose over 2.8% this morning. At the same time, the performance of lithium battery stocks is also particularly eye-popping. EVE Energy hit a record high of 134.05 yuan/share, up over 18% intraday.

Founded in March 2014, Qinghai HXR Lithium Tech is an enterprise engaged in the comprehensive utilisation of salt lake resources and technology R&D, with a registered capital of 65.193 million yuan. The company operates a major lithium carbonate project with annual output of 20,000 mt, which established in July 2015 and commissioned production in November 2017. The main products include industrial-grade lithium carbonate, lithium phosphate and magnesium hydroxide.

The COVID-19 outbreak has led to a precipitous decline in factory operating rates, with operating rates of pharmaceutical intermediate and active pharmaceutical ingredient (API) companies only at around 30%. India is also known as the "World's Pharmaceutical Factory" and produces nearly 20% of the world's generic drugs.

Shanghai base metals traded mixed on Friday morning as traders monitored the European Central Bank's latest meeting and the beginning of Joe Biden's presidency. Meanwhile, their counterparts on the LME also set for a mixed start.

Nonferrous metals on both SHFE and LME declined across the board on Monday morning. Developments on the coronavirus front will likely continue to be monitored by investors and could weigh on sentiment.

Nonferrous metals on the SHFE were mostly higher on Tuesday morning, and their counterparts on the LME rose across the board, following an overnight drop on Wall Street as fears surrounding the coronavirus pandemic lingered.

Shanghai base metals and their counterparts on the LME all cruised higher on Monday morning, holding onto their last Friday gains.  

Shanghai base metals mostly declined on Thursday morning, as investors reacted to minutes released overnight from the US Federal Reserve's November meeting. Meanwhile, their counterparts on the LME were mostly higher on the board.

China’s annual electric bicycle sales have exceeded 30 million units in the past few years, with social e-bike ownership rising close to 300 million units, and output of bikes over 1,000 yuan continues to increase, according to China Bicycle Association.

Nonferrous metals on the SHFE were mostly higher on Friday morning, and their counterparts on the LME also rose for the most part.