Despite the strong growth in demand, Citi expects burgeoning supply will pressure prices towards a long-term outcome of US$7500/t for lithium carbonate and US$550/t for spodumene from the current US$12-15,000/t and US$900/t, respectively.
Looks like potential for $550/t pricing in 2018... hmmm.... did think it may be 2019.......
Now understand why target price dropped from 70c to 55c.