Aug 23, 2019 Pageview：35
China's largest producer of battery materials for lithium has set off waves across the lithium industry after buying a stake in Chile's SQM lithium industry at below-market expectations.
After SQM traded in New York in the form of ADR, its value loss was as high as 7 billion, making the company's market value less than 15 billion U.S. dollars.
Tianqi Lithium acquired the SQM24 stake for US$ 4.07 billion, which was also seen as a new attempt by the market.
Of course, the deal goes against the will of corfo, the South American national development agency, which believes the acquisition will upset the market's balance.
The deal could also put pressure on FMCCorp's fourth quarter IPO plan. The Chinese industry, which also dominates the production and recycling of lithium-ion batteries, has applied for a Hong Kong listing, hoping to raise more than $1 billion.
The price of lithium carbonate has been falling since December's highs, but it remains around $20,000 a tonne from around $6,450 in early 2015.
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