Leverton is a major manufacturer of high-quality Lithium chemicals in the UK and has a customer base across 60 different countries. Whereas the HELM AG are amongst the world largest chemical marketing and global supply chain company based in Hamburg Germany. In recent times, these two companies decided to share their expertise in respective fields with a new joint venture as a Leverton-HELM effective immediately.
In the first phase, the JV between Leverton-HELM decided to combine Leverton current manufacturing facilities in a new site in Basingstoke UK. In response, it allows the expansion of 20,000 MT of high-quality Lithium chemicals. Whereas the Board member stated that “It is a long-term strategic direction to become an integral part of the battery value chain. Working together the JV is looking forward to responding the current market sentiments and challenges with increasing the scale manufacturing of battery grade chemicals”.
Currently, the Lithium Market is observing a severe tightness in the global market, despite the high demand from the downstream EV segments. Whereas the ongoing spring festival holidays and upcoming winter Olympics were likely to keep the Lithium supply gap and suppressed the market sentiments along with unprecedented hike in the offers of Lithium raw materials. Therefore, numerous players were seeking another source of Lithium with less dependance in China.
As per ChemAnalyst, the Lithium prices were soared drastically, and the producer’s quotations exceeded the projected margins by 20-33%. This market trend were majorly supported by the robust demand from the downstream EV segments after the global authorities decided to pace up the transition towards a greener economy.