No wonder Citi have been one of our biggest buyers over the past few months
___________
Lithium prices set to jump to US$60 per kg, says CitiPrice target of US$60k/t for battery-grade carbonate expected to defer or destroy demand
Citigroup substantially upgraded its Lithium forecasts to US$60,000 per tonne for battery-grade carbonate on the back of higher electric vehicle (EV) production and sales expectations.
Battery grade lithium carbonate prices reached an all-time high last year, broke through the US$40,000 barrier, or US$40 per kg, at the start of the year, according to Benchmark Mineral Intelligence, and have kept rising.
The investment bank said extreme lithium pricing was likely to be required to defer or destroy demand, as EV inventories continue to experience a backlog in the face of global supply chain gluts, with the industry experiencing something of an ‘S-curve’.
The suggested price target, Citi says, may squeeze margins for lower range EVs, while possibly restricting non-EV related Lithium demand.
The outlook means further increases for a commodity where prices have already skyrocketed in the last year.
Figures from BMI show the price of lithium carbonate within China rocketed 486% in the 12 months to 1 January 2022.
One of the reasons for the rise is that car manufacturers are increasingly securing their supply of lithium on a contract basis, which restricts supply available for the spot market, resulting in spot prices being so buoyant.
______________________________
Broker Data says it all for them.
- Forums
- ASX - By Stock
- Compelling opportunity
No wonder Citi have been one of our biggest buyers over the past...
-
- There are more pages in this discussion • 1,225 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GLN (ASX) to my watchlist
(20min delay)
|
|||||
Last
16.5¢ |
Change
-0.005(2.94%) |
Mkt cap ! $78.20M |
Open | High | Low | Value | Volume |
16.5¢ | 17.0¢ | 16.0¢ | $322.1K | 1.957M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
26 | 737605 | 16.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.5¢ | 67107 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
23 | 679905 | 0.160 |
6 | 1251622 | 0.155 |
12 | 532425 | 0.150 |
4 | 433458 | 0.145 |
7 | 430000 | 0.140 |
Price($) | Vol. | No. |
---|---|---|
0.165 | 67107 | 3 |
0.170 | 380305 | 8 |
0.175 | 282886 | 4 |
0.180 | 229699 | 5 |
0.185 | 132700 | 3 |
Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
Featured News
GLN (ASX) Chart |