China's top lithium producers agreed this week to set a floor price of 250,000 yuan ($36,380) per tonne of lithium carbonate, six people familiar with the matter said, in an effort to slow a plunge in the price of the battery raw material.
that met on the sidelines of a conference in Nanchang in southern China, said one person who attended the meeting and five others briefed on the discussions.
The move comes as lithium prices plunge on a significant slowdown in demand for electric vehicles in China, the world's largest EV market.picking up paceIt is not clear how long the companies, which account for over half China's lithium carbonate output, will follow the floor price. Offers as low as 150,000 yuan were also heard in the market this week as traders sought to offload mounting stocks, said a buyer for a battery manufacturer who did not attend the meeting of lithium producers.
However, some buyers were sceptical that producers would stick to the floor price, given the sluggish demand.
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