Reported 11 months ago
The lithium industry is experiencing a continued slump as prices of lithium carbonate in China have dropped to their lowest levels since August 2021, and futures have declined by 12% this month. The oversupply and slow demand growth led to an 80% price plunge in 2023, and while prices stabilized briefly, the market is still working to clear inventories. Stock prices of lithium producers like Albemarle and Piedmont Lithium Inc. have also been impacted. Manufacturers are cutting orders for lithium products amid expectations of further price decreases, with some traders anticipating a bottoming out during summer. Despite concerns, some larger players in the industry are pursuing deals to develop lithium projects, suggesting a long-term view on the potential of the market.
Source: YAHOO