Xiaomi Headphones To Get Dearer As Minerals Price Rises

  • A unit of China's top lithium producer Ganfeng Lithium Co Ltd GNENF, raised prices for small batteries for Xiaomi Corp XIACY and Oppo's consumer electronics like headphones, Bloomberg reports.
  • Xinyu Ganfeng Electronics Co informed customers about evaluating new orders' prices amid a substantial power cell cost hike. 
  • Xinyu, a manufacturer of small polymer lithium batteries for smart wearable products and Bluetooth headset batteries, cited a "huge increase" in the prices of minerals. Production and electricity curbs in Inner Mongolia affected node materials, the report added. 
  • Demand for battery metals has boomed as their use expands from consumer electronics to electric vehicles. Meanwhile, supply struggled to catch up amid Covid-related logistical woes and a lack of investment.
  • Chinese battery maker CALB Co, competing with Contemporary Amperex Technology Co Ltd and Warren Buffett-backed BYD Co (OTC: BYDDF) BYDDYgauged investor demand for its $2 billion Hong Kong initial public offering.
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