3 Reasons Goldman Sachs Is Wrong About Lithium | OilPrice.com

Goldman Sachs: lithium prices to average just $16,000 in 2023.Many analysts disagree with Goldman’s bearish call.Over the past few months, oil and commodity markets have been taking out fresh highs after the shuttering of Ukrainian ports, sanctions against Russia, and disruption in Libyan oil production sent energy, crop, and metal buyers scrambling for replacement supplies.

projected to reach historical peaks for an unprecedented, sustained period in a net-zero emissions scenario.After surging 500% over the past year, lithium prices have doubled again this year in one of the biggest commodity bull runs in recent history thanks to the EV boom. “Yet despite this exponential demand profile, we see the battery metals bull market as over for now.”Goldman has predicted that lithium prices will fall to an average of just under U$54,000 per tonne this year and just over $16,000 in 2023 down from an average of above U$60,000.Peering at lithium price charts, Lithium carbonate prices in China were at 477,500 yuan/tonne in June, equating to a 4.4% pullback from the all-time high of 499,521 yuan/tonne attained in early April.

“We’ve seen this before, we will see it again. Goldman Sachs: you can’t just add up all the lithium mine level potential and make an oversupply call ... the speciality chemicals world is more nuanced than iron ore. It’s why the world doesn’t rely on investment banks for research any more,after the Goldman Sachs report came out.

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