Stick with HR lithium but be wary of downside risk for metals
It wasn’t a great month for performance across the battery materials complex and the suggestion to stay positive on Hard Rock Lithium, add some Nickel and REE was Neutral at best! However, given the balance of the situation we’re sticking with that order of preference for July as well, although would flag that REE and Nickel could be on the weak side and that Downstream may very well outperform all the raw material segments. The reason is that the market is fluctuating almost on a daily basis between the Reflation trade, which is positive for resources companies producing good cash...
Topics
Brine
Cobalt
Graphite
Hard rock
Manganese
Nickel
REE
Spodumene
Vanadium
