Lithium mining stocks plunge after Goldman sees “sharp correction” – by Frik Els (Mining.com – June 1, 2022)

https://www.mining.com/

Goldman Sachs rattled lithium stocks after the investment bank declared the battery metals bull market “over for now”. Goldman calls today’s lithium levels a “fundamental mispricing [that] has in turn generated an outsized supply response well ahead of the demand trend in focus.”

In this context, Goldman sees prices on a downward trajectory over the course of the next two years, with a sharp correction in lithium from today’s levels to an average of just under $55,000 this year. For 2023, the forecast is for an average price of just $16,372.

The widely quoted report prompted a sell-off in lithium stocks, with heavy losses across the board. In North America, Livent was the worst performer – down 14% on the day followed by Piedmont Lithium, which lost 13.4%.

For the rest of this article: https://www.mining.com/lithium-mining-stocks-plunge-after-goldman-sees-sharp-correction/