Are lithium carbonate prices falling? No they’re NOT!
The big news for the month was Morgan Stanley’s “Amber Light” note which suggested that lithium carbonate prices may have hit a peak. Notwithstanding the idiocy of using backwards-looking export prices when the current market prices are right in front of you, there are other issues we disagree with in this note. For starters, we don’t know what grade of material was being shipped and whether it was shipped to contract or spot buyers? Both of these are key considerations. We know that SQM doesn’t produce all battery grade material and, indeed, produces up to 40% non-battery grade material. Who’s...