Production updates show lithium market near inflection
Production bounced back at Western Australian listed hard rock lithium producers in CQ2/20 and was up 38% q/q to 238.5Kdmt. Shipments also increased, reaching 212.8Kdmt, although lagging production, and leading to an increase in inventories at listed producers for the first time since CQ3/19. However, shipments from Greenbushes via Bunbury port were lower, meaning that estimated total WA hard rock shipments were only 324Kdmt in CQ2/20, their lowest level since Q3/18. We understand that the issues that Tianqi Lithium (SHE:002466) is experiencing with its cash flow have led to a major reduction in activity at Greenbushes, which is impacting both...