2025 Charts, page-105

With the carbonate price below for reference,



Below is a plot I coded up of the % change from the all-time high for each stock (black line). The Chinese .sz stocks are Ganfeng and Tianqi. The average over all stocks listed of the % change from their all-time high is in black, standard deviation is in red. Interpret it as you wish I suspect H2 2025 we might see more significant improvement and think that the PLS CEOs call of a lithium price bottom is probably correct. Sub 40K carbonate of mid-2020 isn't likely due to inflationary creep.