2023 outlook: Inventory levels will be key
It’s probably fair to say that the first half of the year in battery materials has been dominated much more by price moves than we may have forecast. While lithium prices have bounced strongly off recent low levels in the past few months, other battery materials prices have been falling, and focus has now shifted to the second half of 2023, and possibly 2024, in terms of the drivers for price recovery. There is no doubt that the magnitude of the downturn in Chinese cell production in January caught out many commentators (including us). And focus now shifts to how...