PLL - Goldman wrong on lithium pessimism specialty analysts say

Goldman Sachs grabbed investor attention when it warned recently that lithium prices had peaked and will go into reverse this year as supply from unconventional new sources overwhelms demand, but specialty firms including Benchmark Mineral Intelligence are pushing back, Bloomberg reported on Monday. Benchmark disputes Goldman's contention that lithium and electric vehicle metals will shift to sustained surplus over the next 1-2 years, "which means materially lower price levels," agreeing that prices will fall back from recent sky-high levels but taking a more pessimistic view on the scale and timing of new supply. Benchmark believes the mining industry has a poor track record of hitting its production targets, and that lithium has added risks to due to the complex technical processes involved in making the final products used in battery packs. "You've got this additional hurdle arising because it's not a commodity, it's a specialty chemical," Benchmark analyst Daisy Jennings-Gray told Bloomberg.

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Goldman wrong on lithium pessimism, specialty analysts say