CATL: Zimbabwe Lithium Ban Has Limited Substantial Impact on Global Supply and Demand

According to Golden Ten Data on March 10, CATL stated at its performance briefing that Zimbabwe's recent policy restricting the export of lithium raw ore may be aimed at promoting the localization of its industrial chain. Relevant mining companies are accelerating the construction of local lithium production capacity, and it is believed that the construction period will not be too long, with subsequent exports of related products expected to steadily recover. The global supply of lithium ore mainly comes from Australia, South America, and domestic sources, so Zimbabwe's lithium export ban has a limited substantive impact on global supply and demand. The company has a well-established supply chain layout, and short-term fluctuations in raw material prices or policy changes in a single region have little impact on the company's overall operations.