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Korean Lithium Refiner Ecopro Cuts Output on Weakening EV Demand
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South Korean metals refiner Ecopro Innovation Co. has cut production of lithium hydroxide used for batteries by 10% from a year ago, in response to weakening global demand growth for electric vehicles.
The producer could slash output by as much as a fifth, depending on the situation in the EV market, Chief Executive Officer Anthony Kim said on the sidelines of the Fastmarkets Asian Battery Raw Materials Conference in Seoul. Battery metals probably won’t rebound until the second quarter of 2025, he said, adding that Chinese futures are showing signs of recovery.