Lithium prices soared after CATL shut down a major mine in China, fueling speculation of further restrictions.

The closure of the Jianxiawo mine by CATL, a major player in the battery industry, led to significant increases in lithium prices and share prices of companies in the industry. Shares in Tianqi Lithium and Ganfeng Lithium saw increases of up to 21%. The Jiangxi mine, responsible for 6% of global lithium production, has been hit by rumors of license non-renewal. Despite a global oversupply and falling demand for electric vehicles, experts expect near-term upside potential for lithium prices.