This from this morning's AFR. Talk about sticking the knife in...

This from this morning's AFR.
Talk about sticking the knife in and twisting it around......  I suppose it helps the overriding strategy "the parasites" put in play!!

Lithium’s bleak outlook

In a note, Bank of America commodity strategist Michael Widmer said he has cut its forecasts for lithium, saying “with operators focused on preserving margins through cost management, we are concerned that lithium has not yet found a bottom”.
Widner said lithium prices have been under pressure, as the market has flipped from deficit into surplus. “Operators have been reluctant to curtail production, the project pipeline is well filled and we continue to expect very high surpluses - this should keep the pressure on prices for now.“
“Ultimately, the supply overhang is driven by upstream production - one reason why mined spodumene has underperformed the downstream chemicals. Factoring in the lack of production discipline, we reduce our price forecasts and see lithium cutting deeper into cost curves, up to the point when miners start exiting the market; timing somewhat uncertain.”
Widmer slashed his forecast for spodumene in 2024 by 63.1 per cent to $US650 a tonne from $US1763 and his 2025 forecast by 34 per cent to $US1438 a tonne from $US2188.

His cut his 2024 forecasts for carbonate by 36.4 per cent to $US10,500 a tonne and for hydroxide by 35.5 per cent to $US11,613 a tonne.