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Macquarie Research has been forced into an embarrassing backflip over its outlook for the lithium market.
Analysts from the investment bank this week upgraded their forecasts for the lithium and cobalt price and lifted their outlook for several local lithium players after last year predicting an oversupply of the commodity.
Yesterday, Macquarie upgraded its lithium price forecasts 19 per cent in 2020-21, 29 per cent in 2022 and 17 per cent over the long term.

It also upgraded the stocks of aspiring producer Pilbara Minerals and producer Galaxy Resources to “outperform” and Altura Mining, another aspiring WA lithium miner, to “neutral”.

“We believe increased Chinese electric vehicle production driven by the recently announced NEV credit system will continue to drive medium-term lithium and cobalt demand,” the Macquarie commodities team said in a research note to its clients

.https://thewest.com.au/business/min...ith-backflip-on-lithium-outlook-ng-b88512864z