The pilot production of 25000 tons of battery-grade lithium hydroxide and battery-grade lithium carbonate project of China Mineral Resources opened trading limit today.

SMM: on the evening of August 19th, China Mineral Resources released its results for the first half of 2021. According to the financial report, in the past six months, the company achieved 874 million of revenue, an increase of 68.51% over the same period last year, while net profit was 173 million yuan, an increase of 130.82% over the same period last year.

The announcement said that during the reporting period, the company's lithium salt market business developed well. On the same day of the release of the results, China Mineral Resources also issued another announcement that the company's annual production line of 25000 tons of battery-grade lithium hydroxide and battery-grade lithium carbonate has been completed and successfully ignited and put into trial operation.

It is reported that the project was invested by Jiangxi Dongpeng New Materials Co., Ltd., a wholly owned subsidiary of the company, in 2020, with a total investment of 450 million yuan, mainly producing battery-grade lithium carbonate and battery-grade lithium hydroxide and other major lithium battery raw materials.

It is worth mentioning that, according to the spot quotation of SMM, the price of battery-grade lithium carbonate and battery-grade lithium hydroxide has continued to rise recently, and the upper limit of battery-grade lithium carbonate quotation has exceeded 100000 yuan / ton. As of August 19, the average price of domestic battery-grade lithium carbonate was 99500 yuan / ton, with a price increase of 3000 yuan in just four days, which shows its popularity; while battery-grade lithium hydroxide is also not willing to lag behind, as of August 19, its spot price is 114000 yuan / ton, with a four-day price increase of 2500 yuan / ton.

"Click to view the spot market of SMM metal.

For the future price trend of the two, according to SMM research, the current lithium carbonate fundamentals are still in a tight balance, in the case of manufacturers hesitant to sell, the tight supply pattern appears. The supply of lithium hydroxide picked up in September, and the price rise is expected to slow. "View details

In addition, the company has a lithium ore-related business, and the resumption of spodumene mining and concentrator in its Canadian TANCO mine is in progress and is scheduled to be completed by the end of August and start production in September. The raw ore production scale is 120000 tons / year. In this era when ore is king, self-sufficient mineral resources can provide solid backing for the company's lithium salt business.

Stimulated by the financial report and the good news that the company's annual production line of 25000 tons of battery-grade lithium hydroxide and battery-grade lithium carbonate was completed, China Mineral Resources opened today, pulled up and sealed the trading limit, and then rose again after a small shock. As of 10:30, China Mineral Resources was at 58.8 yuan per share.