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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Tianqi Lithium Corp    002466   CNE100000T32

TIANQI LITHIUM CORP

(002466)
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LME to launch lithium committee including Tesla, Albemarle

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10/29/2019 | 11:18am EST
FILE PHOTO: A logo of Tesla Motors on an electric car model is seen outside a showroom in New York

LONDON (Reuters) - The London Metal Exchange is planning to create a committee to represent the interests of producers and users of lithium, a key component in electric car batteries, it said on Tuesday.

Announcing the committee during LME Week, an annual gathering in London of metals consumers, producers, traders and brokers from around the world, the LME said it was likely to include representatives of nine companies.

These include vehicle makers Tesla and Jaguar Land Rover, and lithium producers and processors Tianqi Lithium Australia, BASF and Chile-focused Albemarle, the LME said.

Demand for lithium is expected to more than triple by 2025 to 917,469 tonnes as production of electric vehicles grows, according to Canaccord Genuity.

But near-term oversupply has more than halved prices since the start of 2018, prompting major producers to scale back expansion plans.

The LME is planning a lithium contract, and in June selected Fastmarkets to provide a reference price, but has given no timeline for an official launch.

However, Albemarle, the biggest producer, has said it will not participate in the contract, depriving it of a key source of pricing data.

Its move reflects a view by some that lithium is a speciality chemical rather than a basic commodity and should be priced on a contract-by-contract basis.

The LME has committees, which perform an advisory role, for producers and users of other metals that trade on the exchange including copper, aluminium and cobalt.

The exchange is owned by Hong Kong Exchanges and Clearing Ltd.

(Reporting by Peter Hobson; Editing by Mark Potter and Jan Harvey)

By Peter Hobson

Stocks mentioned in the article
ChangeLast1st jan.
ALBEMARLE CORPORATION 0.65% 64.72 Delayed Quote.-16.02%
BASF SE -1.15% 67 Delayed Quote.12.24%
CANACCORD GENUITY GROUP INC. -1.21% 4.88 Delayed Quote.-14.38%
HONG KONG EXCHANGES AND CLEARING LIMITED -0.32% 246.8 End-of-day quote.7.96%
LME ALUMINIUM CASH 0.89% 1766 End-of-day quote.-4.95%
LME COPPER CASH 2.00% 5985 End-of-day quote.2.50%
TATA MOTORS LTD -0.59% 160.55 End-of-day quote.-6.11%
TESLA INC. 1.08% 339.53 Delayed Quote.2.02%
TIANQI LITHIUM CORP End-of-day quote.
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Financials (CNY)
Sales 2019 5 638 M
EBIT 2019 3 045 M
Net income 2019 122 M
Debt 2019 29 576 M
Yield 2019 0,05%
P/E ratio 2019 213x
P/E ratio 2020 22,9x
EV / Sales2019 10,9x
EV / Sales2020 8,72x
Capitalization 31 839 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 13
Average target price 24,45  CNY
Last Close Price 27,72  CNY
Spread / Highest target 15,4%
Spread / Average Target -11,8%
Spread / Lowest Target -24,2%
EPS Revisions
Managers
NameTitle
Wei Wu General Manager & Director
Wei Ping Jiang Chairman
Qing Yang Chairman-Supervisory Board
Jun Zou Director, Chief Financial & Accounting Officer
An Qi Jiang Director
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GRAFTECH INTERNATIONAL LTD.10.40%3 657
JINDUICHENG MOLYBDENUM CO., LTD.24.16%3 360
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GEM CO LTD--.--%2 482
AURUBIS2.59%2 207