Chinese battery giant Contemporary Amperex Technology, or CATL, said on Monday it had suspended production at a major lithium mine amid a broader crackdown on overcapacity, Reuters reported. CATL said the license for its mine in Yichun, in the southern province of Jiangxi, had expired on August 9 and the company was applying to renew it “as soon as possible,” Reuters added. In pre-market trading in New York following the report, lithium futures and shares of Albemarle (ALB) are rising. Albemarle shares are up $8.08, or 11%, to $83.60 in pre-market trading near 7 AM EDT.
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