Lithium squeeze over: Seasonality suggests weakness
Last month, having just returned from China, we flagged the possibility of a squeeze in lithium prices. This month we call that trade as over. Lithium prices have peaked for now and are heading down again. Wherever we look in the space we struggle to find upside catalysts. Tesla and Rivian have been outperforming, more on macro issues than on fundamental, pulling our EV basket upwards. But everywhere else we look the outlook is neutral or negative. So it’s really a question of identifying those segments that we’re least negative on, rather than those we’re positive! We like REE the...
Topics
Cellmakers
Cobalt
EV Makers
Graphite
Lithium
Midstream
Nickel
REE
