Downstream to outperform in September
Last month we flagged the potential for weakness in mining stocks due to the northern hemisphere summer and, indeed, August was a torrid month for most of the battery raw materials complex. Given the 20+% correction in lithium chemicals prices, our lithium baskets actually outperformed. Will they be so successful in September? It’s a difficult one to call, but we can’t really see lithium prices recovering until the likely restocking event after China’s National Day holidays (post 9 October), so lithium (and indeed many mining stocks) may remain down in the dumps for the rest of September.
Topics
Downstream
Explorers
Lithium
Midstream
Producers
Upstream
