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-0.000130225289751275 0 -0.000390675869253824 0.00264791422494254 0.00290836480444497 -0.000347267439336773 -0.00464470200112859 -0.00282154794461087
Stock impact report

Can rising lithium costs save China's energy storage firms from a brutal price war? [Yahoo! Finance]

Citigroup, Inc. (C) 
Last citigroup, inc. earnings: 4/15 08:00 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
Company Research Source: Yahoo! Finance
raise prices by 15 per cent, a move that is sparking debate over whether the sector could be the first to break free from the "involution" cycle. Rising lithium costs were the immediate trigger, with at least three other battery makers reported in recent weeks to be planning similar increases. Prices of the metal, crucial to rechargeable batteries, have rebounded about 70 per cent from this year's trough, boosted by a global investment boom in artificial intelligence and a rush of electric vehicle purchases in mainland China. The price rise comes as Beijing's "anti-involution campaign" spread to battery manufacturing. In late November, the Ministry of Industry and Information Technology met 12 industry leaders, including BYD chairman Wang Chuanfu, and pledged to roll out measures faster to curb "irrational" competition. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with e Show less Read more
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