Ganfeng Lithium receives approval to issue new shares amid surging lithium demand

China’s Ganfeng Lithium has been authorized by the Chinese Securities Regulatory Commission to issue around 48 million new shares overseas, the company said in a filing on Friday June 11.

The news comes at a time of growing demand for lithium in China and overseas amid a shift to a greener economy.

Lithium is a key ingredient in batteries used to power electric vehicles (EV).

The company is listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange.

Earlier this week, the company announced a joint venture to invest in and construct a lithium project with an annual output 50,000 tonnes of lithium salts in Fengcheng city, Jiangxi province, in response to surging lithium demand in China.

Demand for lithium hydroxide has continued to increase, driven by the development of the high-nickel ternary battery sector. China’s lithium hydroxide prices have risen rapidly since the start of 2021 amid decent buying interest and supply tightness.

Fastmarkets’ weekly assessment for the lithium hydroxide monohydrate, 56.5% LiOH.H2O min, battery grade, spot price range, exw domestic China held at 92,500-97,500 yuan ($14,467-15,249) per tonne on June 10, unchanged from a week a go but up from 41,000-46,000 yuan per tonne on December 31.

Spot business has been active in recent weeks in China with consumers attempting to secure units for June delivery to support production that is broadly operating at full rates amid robust demand for nickel-rich nickel-cobalt-manganese (NCM) lithium-ion batteries, which typically feed on lithium hydroxide.

What to read next
On September 25, the discontinuation was postponed from the originally scheduled final publication to take into account the needs of market participants that still had physical contracts linked to the lithium contract assessments in place. The affected prices are:• MB-LI-0031Lithium hydroxide monohydrate LiOH.H2O 56.5% LiOH min, battery grade, contract price cif China, Japan & Korea• MB-LI-0027Lithium carbonate 99.5% Li2CO3 min, battery […]
The publication of Fastmarkets’ Shanghai copper premiums on Monday December 23 were delayed because of a reporter error. Fastmarkets’ pricing database has been updated.
China's tightened export controls on gallium and germanium formalize existing restrictions, heightening supply concerns amid ongoing geopolitical tensions.
Fastmarkets confirms it will discontinue its lithium contract assessments after their final publication date of Tuesday, December 24.
The publication of Fastmarkets’ MB-ALU-0001 Alumina metallurgical grade, exw China, yuan/tonne for Thursday December 12 was delayed because of a reporter error. Fastmarkets’ pricing database has been updated.
The publication of Fastmarkets’ MB-CO-0021 Cobalt hydroxide payable indicator, min 30% Co, cif China assessment on Wednesday December 12 was delayed because of an approver error. Fastmarkets’ pricing database has been updated.