UBS’ latest thoughts on lithium
According to reporting by the Australian Financial Review, UBS has increased its forecast for lithium prices in 2022.
The broker said that it’s reviewing its long-term assumptions with lithium spot prices outperforming expectations. UBS noted that there are no signs of easing yet.
UBS increased spodumene expectations by 17% for 2022 to US$4,485 per tonne and its long-term price remains at US$800 per tonne.
UBS pointed out that at a price of US$4,485 per tonne, this is lower than the US$5,000 per tonne guidance that has been given by Allkem.
The broker suggested that while lithium producers may not receive the spot price for what they produce (due to fixed-price contracts), the lithium sector could move towards spot pricing.
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